Published on 7/30/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.05 million contingent coupon autocallables linked to three ETFs
By Sarah Lizee
Olympia, Wash., July 30 – Citigroup Global Markets Holdings Inc. priced $1.05 million of autocallable contingent coupon equity-linked securities due April 23, 2021 linked to the lesser performing of the Financial Select Sector SPDR fund, Industrial Select Sector SPDR fund and Utilities Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 5.7375% per year if the least-performing underlier closes at or above its coupon barrier value, 60% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the least-performing underlier closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any underlier finishes below the 60% final barrier value, in which case investors will be fully exposed to the decline of the least-performing underlier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underliers: | Financial Select Sector SPDR fund, Industrial Select Sector SPDR fund and Utilities Select Sector SPDR fund
|
| Amount: | $1,051,000
|
| Maturity: | April 23, 2021
|
| Coupon: | 5.7375% per year, payable quarterly if least-performing underlier closes at or above coupon barrier value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing underlier finishes below final barrier level, in which case investors will be fully exposed to the decline of the least-performing underlier
|
| Call: | Automatically at par if least-performing share price closes at or above initial level on any quarterly observation date
|
| Initial levels: | $23.84 for financial, $71.12 for industrial, $59.42 for utilities
|
| Coupon barriers: | $14.304 for financial, $42.672 for industrial, $35.652 for utilities, 60% of initial levels
|
| Final barrier levels: | $14.304 for financial, $42.672 for industrial, $35.652 for utilities, 60% of initial levels
|
| Pricing date: | July 20
|
| Settlement date: | July 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17328W2P2
|
|
|
© 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.
