Published on 2/21/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1 million contingent coupon autocallables on three stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due Feb. 21, 2025 linked to the least performing of the common stocks of Etsy, Inc., Universal Display Corp. and Zillow, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 21% per year if the least-performing stock closes at or above its coupon barrier value, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par if the least-performing stock closes at or above 90% of its initial price on any valuation date other after three months.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 50% of its initial share price, in which case investors will have full exposure to loss of least-performing stock.
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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| Underlying stocks: | Etsy, Inc., Universal Display Corp. and Zillow, Inc.
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| Amount: | $1,001,000
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| Maturity: | Feb. 21, 2025
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| Coupon: | 21% per year, payable each month if least-performing stock 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 stock finishes below final barrier value, in which case full exposure to loss of least-performing stock
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| Call: | Automatically at par if least-performing stock closes at or above 90% of initial share price on any quarterly valuation date on any valuation date after three months
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| Initial share prices: | $53.32 for Etsy, $177.74 for Universal Display, $52.39 for Zillow
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| Coupon barriers: | $31.992 for Etsy, $106.644 for Universal Display, $31.434 for Zillow, or 60% of initial share prices
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| Barrier values: | $26.66 for Etsy, $88.87 for Universal Display, $26.195for Zillow, or 50% of initial share prices
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17327TS64
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