Published on 5/31/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $358,000 contingent coupon autocallables on three stocks
Chicago, June 1 – Citigroup Global Markets Holdings Inc. priced $358,000 of autocallable contingent coupon equity-linked securities due May 22, 2025 linked to the least performing of the common stocks of Pinterest, Inc., Zillow Group, Inc. and Zscaler, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 24% 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 plus the coupon if the least-performing stock closes at or above 90% of its initial price on any monthly autocall date starting after six 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: | Pinterest, Inc., Zillow Group, Inc. and Zscaler, Inc.
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| Amount: | $358,000
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| Maturity: | May 22, 2025
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| Coupon: | 24% 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 its initial share price on any monthly valuation date after six months
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| Initial share prices: | $18.52 for Pinterest, $49.44 for Zillow, $73.81 for Zscaler
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| Coupon barriers: | $11.112 for Pinterest, $29.664 for Zillow, $44.286 for Zscaler, or 60% of initial share prices
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| Autocall barrier values: | $16.668 for Pinterest, $44.496 for Zillow, $66.429 for Zscaler, or 90% of initial share prices
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| Final barrier values: | $9.260 for Pinterest, $24.720 for Zillow, $36.905 for Zscaler, or 50% of initial share prices
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| Pricing date: | May 18
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| Settlement date: | May 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17328VVS6
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