Published on 3/12/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.1 million contingent coupon autocalls on Nasdaq, Russell, Dow
By Sarah Lizee
Olympia, Wash., March 12 – Citigroup Global Markets Holdings Inc. priced $1.1 million of autocallable contingent coupon equity-linked securities due March 5, 2025 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the 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 monthly coupon at an annual rate of 6.5% if each index closes at or above the 70% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date after one year.
The payout at maturity will be par unless any index finishes 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: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,098,000
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| Maturity: | March 5, 2025
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| Coupon: | 6.5% annualized, payable monthly if each index closes at or above coupon barrier on valuation date for that month
|
| Price: | Par
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| Payout at maturity: | If each index closes above trigger, par; otherwise, 1% loss for each 1% decline of worse performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly review date after one year
|
| Initial levels: | 25,409.36 for Dow, 1,476.431 for Russell, 8,461.835 for Nasdaq
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| Coupon barriers: | 17,786.552 for Dow, 1,033.502 for Russell, 5,923.285 for Nasdaq, 70% of initial levels
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| Trigger levels: | 15,245.616 for Dow, 885.859 for Russell, 5,077.101 for Nasdaq, 60% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17327TS49
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