Published on 9/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $5.06 million autocallable contingent coupon notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – Citigroup Global Markets Holdings Inc. priced $5.06 million of autocallable contingent coupon equity-linked securities due Sept. 1, 2022 linked to the stocks of Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 10.15% if each stock closes at or above the coupon barrier price, 60% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above final barrier price, 60% of its initial level, the payout at maturity will be par plus any final coupon. Otherwise, investors will be exposed to the decline of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | Russell 2000 index and SPDR S&P Regional Banking ETF
|
| Amount: | $5,064,000
|
| Maturity: | Sept. 1, 2022
|
| Coupon: | 10.15% annualized rate, payable quarterly if each stock closes at or above coupon barrier price, on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any final contingent coupon if each stock closes at or above final barrier; otherwise, investors will be exposed to the decline of the worst performer
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
|
| Initial share prices: | 1,578.343 for index, $39.33 for ETF
|
| Coupon barrier prices: | 947.006 for index, $23.598 for ETF, 60% of initial levels
|
| Final barrier values: | 947.006 for index, $23.598 for ETF, 60% of initial levels
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 1
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328WAX6
|
|
|
© 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.
