Published on 2/20/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.03 million contingent coupon autocalls on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – Citigroup Global Markets Holdings Inc. priced $1.03 million of autocallable contingent coupon equity-linked securities due Feb. 18, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 4% if each index closes at or above the 70% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date from Feb. 12, 2021 to Nov. 12, 2024.
The payout at maturity will be par unless any index falls below the 60% threshold, in which case investors will be fully exposed to any decline of the worst performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1.03 million
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| Maturity: | Feb. 18, 2025
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| Coupon: | 4% annualized, payable monthly if each index closes at or above 70% coupon barrier on valuation date for that month
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| Price: | Par
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| Payout at maturity: | If each index closes above 60% trigger, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly review date from Feb. 12, 2021 to Nov. 12, 2024
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| Initial levels: | 29,551.42 for Dow, 1,689.377 for Russell, 9,613.201 for Nasdaq
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| Coupon barriers: | 20,685.994 for Dow, 1,182.564 for Russell, 6,729.241 for Nasdaq, 70% of initial levels
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| Trigger levels: | 17,730.852 for Dow, 1,013.626 for Russell, 5,767.921 for Nasdaq, 60% of initial levels
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17327T2D7
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