Published on 11/25/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $100,000 contingent coupon autocallable notes on tech stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 25 – Citigroup Global Markets Holdings Inc. priced $100,000 of autocallable contingent coupon equity-linked securities due Nov. 24, 2020 tied to the common stocks of Netflix, Inc., Alphabet Inc., Facebook, Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 11% per year, payable monthly if each stock closes above its coupon barrier, 65% of its initial level, on the observation date for that period.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any monthly autocall date.
If the notes are not called and the final price each stock is at least 65% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss of the least performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Netflix, Inc., Alphabet Inc., Facebook, Inc. and Amazon.com, Inc.
|
| Amount: | $100,000
|
| Maturity: | Nov. 24, 2020
|
| Coupon: | 11%, payable monthly if stocks close above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par if each stock’s final price is at least 65% of initial price; otherwise, full exposure to loss of least performing stock
|
| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any monthly autocall date
|
| Initial prices: | $305.16 for Netflix, $1,301.86 for Alphabet, $197.51 for Facebook, $1,745.53 for Amazon
|
| Coupon barriers: | $198.354 for Netflix, $846.209 for Alphabet, $128.382 for Facebook, $1,134.595 for Amazon; 65% of initial prices
|
| Final barriers: | $198.354 for Netflix, $846.209 for Alphabet, $128.382 for Facebook, $1,134.595 for Amazon; 65% of initial prices
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17327TFM3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
