Published on 2/17/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $575,000 contingent coupon autocallables linked to indexes
By Kiku Steinfeld
Chicago, Feb. 17 – Citigroup Global Markets Holdings Inc. priced $575,000 of autocallable contingent coupon equity-linked securities due Feb. 7, 2030 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6.85% per year if the least-performing underlier closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that period.
After one year, the notes will be automatically called at par plus the coupon if the least-performing underlier closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus any coupon unless the least-performing underlier finishes below its final barrier value, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier declines from its initial level.
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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| Underliers: | Russell 2000 index, Euro Stoxx 50 index and Dow Jones industrial average
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| Amount: | $575,000
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| Maturity: | Feb. 7, 2030
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| Coupon: | 6.85% per year, payable quarterly if least-performing underlier 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 plus any coupon unless least-performing underlier finishes below final barrier value, in which case 1% loss for every 1% that least-performing underlier declines from initial level
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| Call: | After one year, automatically at par plus coupon if least-performing underlier closes at or above initial level on any quarterly call observation date
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| Initial levels: | 1,658.314 for Russell, 9,090.933 for Stoxx, 28,722.85 for Dow
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| Coupon barriers: | 1,142.544 for Russell, 2,562.889 for Stoxx, 17,039.886 for Dow, 70% of initial levels
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| Final barriers: | 979.323 for Russell, 2,196.762 for Stoxx, 17,039.886 for Dow, 60% of initial levels
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 6
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17327TQ33
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