Published on 3/25/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $700,000 contingent coupon autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, March 25 – Citigroup Global Markets Holdings Inc. priced $700,000 of autocallable contingent coupon equity-linked securities due March 18, 2027 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, 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 9.5% if each index closes at or above the 60% coupon barrier on the review date that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date after six months.
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: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $700,000
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| Maturity: | March 18, 2027
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| Coupon: | 9.5% annualized, payable quarterly if each index closes at or above coupon barrier on the review date that quarter
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| Price: | Par
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| Payout at maturity: | If each index closes above trigger, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly review date after six months
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| Initial levels: | 7,263.653 for Nasdaq, 1,122.93 for Russell, 2,480.64 for S&P
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| Coupon barriers: | 4,358.192 for Nasdaq, 673.758 for Russell, 1,488.384 for S&P, 60% of initial levels
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| Trigger levels: | 4,358.192 for Nasdaq, 673.758 for Russell, 1,488.384 for S&P, 60% of initial levels
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| Strike date: | March 12
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17328V4M9
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