Published on 11/18/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.41 million contingent coupon autocalls on S&P, Russell, Dow
By Taylor Fox
New York, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $4.41 million of market-linked securities – autocallable with contingent coupon and contingent downside – due Oct. 29, 2024 linked to the worst performing of the S&P 500 index, the Russell 2000 index and 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 quarterly coupon at an annualized rate of 7.9% if each index closes at or above its 70% coupon barrier on the related quarterly review date, plus any previously unpaid coupon.
The notes will be called at par if the lower performing index closes at or above its initial value on a quarterly valuation date starting after six months.
The payout at maturity will be par unless the lowest performing index finishes below its 70% barrier level, in which case investors will 1% for every 1% the worst performing index falls.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon and contingent downside securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $4,409,000
|
| Maturity: | Oct. 29, 2024
|
| Coupon: | 7.9% annualized, payable quarterly if each index closes at or above coupon barrier on related quarterly review date
|
| Price: | Par
|
| Payout at maturity: | Par unless worst performing index finishes below final barrier, in which case investors will lose 1% for each 1% the worst performing index falls
|
| Call: | At par if worst performing index closes at or above its initial value on a quarterly call date after six months
|
| Initial price: | 3,310.11 for S&P, 1,561.577 for Russell and 26,659.11 for Dow
|
| Coupon barrier: | 2,317.077 for S&P, 1,093.1039 for Russell and 18,661.377 for Dow, 70% of initial price
|
| Final barrier: | 2,317.077 for S&P, 1,093.1039 for Russell and 18,661.377 for Dow, 70% of initial price
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.175%
|
| Cusip: | 17328WY44
|
|
|
© 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.
