Published on 5/5/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.8 million contingent coupon autocallables on four stocks
By Wendy Van Sickle
Columbus, Ohio, May 5 – Citigroup Global Markets Holdings Inc. priced $3.8 million of autocallable contingent coupon equity-linked securities due May 2, 2023 linked to the least performing of the common stocks of Home Depot, Inc., JPMorgan Chase & Co., Starbucks Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 20% 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 its initial price on any quarterly autocall date.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 60% 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.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable contingent coupon equity-linked securities
|
Underlying stocks: | JPMorgan Chase & Co., Home Depot, Inc., Starbucks Corp. and Microsoft Corp.
|
Amount: | $3,796,000
|
Maturity: | May 2, 2023
|
Coupon: | 20% per year, payable each quarter if least-performing stock closes at or above coupon barrier value on valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case full exposure to loss of least-performing stock
|
Call: | Automatically at par if least-performing stock closes at or above initial share price on any quarterly valuation date
|
Initial share prices: | $95.29 for JPMorgan, $217.63 for Home Depot, $78.69 for Starbucks, $169.81 for Microsoft
|
Coupon barriers: | $57.174 for JPMorgan, $130.578 for Home Depot, $47.214 for Starbucks, $101.886 for Microsoft, or 60% of initial share prices
|
Barrier values: | $57.174 for JPMorgan, $130.578 for Home Depot, $47.214 for Starbucks, $101.886 for Microsoft, or 60% of initial share prices
|
Pricing date: | April 28
|
Settlement date: | April 30
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 3.25%
|
Cusip: | 17324XD80
|
|
© 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.