Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.66 million contingent coupon autocallables on four stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Citigroup Global Markets Holdings Inc. priced $1.66 million of autocallable contingent coupon equity-linked securities due Feb. 1, 2023 linked to the least performing of the common stocks of Facebook, Inc., Square, Inc., Micron Technology, Inc. and Spirit Airlines, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 18.75% per year if the least-performing stock closes at or above its coupon barrier value, 55% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the least-performing stock closes at or above its initial price on any quarterly valuation date other than the final one.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 55% of its initial share price, in which case investors will have full exposure to loss of least-performing stock.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Facebook, Inc., Square, Inc., Micron Technology, Inc. and Spirit Airlines, Inc.
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| Amount: | $1,658,000
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| Maturity: | Feb. 1, 2023
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| Coupon: | 18.75% per year, payable quarterly if least-performing stock closes at or above coupon barrier value on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case full exposure to loss of least-performing stock
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| Call: | Automatically at par if least-performing stock closes at or above initial share price on any quarterly valuation date on any quarterly valuation date other than the final one
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| Initial share prices: | $76.16 for Square, $223.23 for Facebook, $55.30 for Micron, $42.71 for Spirit
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| Coupon barriers: | $41.888 for Square, $122.777 for Facebook, $30.415 for Micron, $23.491 for Spirit, or 55% of initial share prices
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| Barrier values: | $41.888 for Square, $122.777 for Facebook, $30.415 for Micron, $23.491 for Spirit, or 55% of initial share prices
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17324XVZ0
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