Published on 4/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $750,000 contingent coupon autocallables linked to indexes
By Wendy Van Sickle
Columbus, Ohio, April 21 – Citigroup Global Markets Holdings Inc. priced $750,000 of autocallable contingent coupon equity-linked securities due April 24, 2025 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 8% 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.
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 autocall date after one year.
The payout at maturity will be par 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, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $750,000
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| Maturity: | April 24, 2025
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| Coupon: | 8% per year, payable monthly 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 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: | Automatically at par plus the coupon if the least-performing underlier closes at or above its initial level on any quarterly autocall date after one year
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| Initial levels: | 24,242.49 for Dow, 8,832.414 for Nasdaq, 1,229.098 for Russell
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| Coupon barriers: | 16,969.743 for Dow, 6,182.690 for Nasdaq, 860.369 for Russell, 70% of initial levels
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| Final barriers: | 14,545.494 for Dow, 5,299.448 for Nasdaq, 737.459 for Russell, 60% of initial levels
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| Strike date: | April 17
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| Pricing date: | April 20
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| Settlement date: | April 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328VNS5
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