Published on 4/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 21 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity-linked securities due April 21, 2021, linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 15.75% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after three months.
If each asset finishes at or above its final barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon, if any. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $500,000
|
| Maturity: | April 21, 2021
|
| Contingent coupon: | 15.75% per year, payable monthly if each asset closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above final barrier, par plus any coupon; otherwise, full exposure to losses of least-performing asset
|
| Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
|
| Initial levels: | 23,537.68 for Dow, 1,178.098 for Russell, 2,799.55 for S&P
|
| Coupon barriers: | 16,476.376 for Dow, 824.662 for Russell, 1,959.685 for S&P; 70% of initial levels
|
| Final barriers: | 14,122.608 for Dow, 706.853 for Russell, 1,679.73 for S&P; 60% of initial levels
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17328VRL6
|
|
|
© 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.
