Published on 2/14/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.8 million contingent coupon autocallables on four stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – Citigroup Global Markets Holdings Inc. priced $1.8 million of autocallable contingent coupon equity-linked securities due Feb. 14, 2023 linked to the least performing of the common stocks of Facebook, Inc., Visa, Inc., Amazon.com, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes pay a contingent coupon at the rate of 10.2% per year if the least-performing stock closes at or above its coupon barrier value, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par if the least-performing stock closes at or above 90% of its initial price on any 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, 50% 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., Visa, Inc., Amazon.com, Inc. and Netflix, Inc.
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Amount: | $1,795,000
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Maturity: | Feb. 14, 2023
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Coupon: | 10.2% per year, payable each six months if least-performing stock closes at or above coupon barrier value on valuation date for that period
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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 90% of initial share price on any quarterly valuation date on any valuation date other than the final one
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Initial share prices: | $203.04 for Visa, $210.85 for Facebook, $2,050.23 for Amazon.com, $366.95 for Netflix
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Coupon barriers: | $121.824 for Visa, $126.51 for Facebook, $1,230.138 for Amazon.com, $220.17 for Netflix, or 60% of initial share prices
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Barrier values: | $101.52 for Visa, $105.425 for Facebook, $1,025.115 for Amazon.com, $183.475 for Netflix, or 50% of initial share prices
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Pricing date: | Feb. 7
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Settlement date: | Feb. 14
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17324XXB1
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