Published on 4/14/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.78 million contingent coupon autocallables linked to Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, April 14 – Citigroup Global Markets Holdings Inc. priced $3.78 million of autocallable contingent coupon equity-linked securities due April 11, 2022 linked to the least performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10.1% per year if the least-performing underlier closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that period.
After six months, the notes will be automatically called at par plus the coupon if the least-performing underlier closes at or above its initial level on any quarterly potential autocall date.
The payout at maturity will be par unless the least-performing underlier finishes below its final barrier value, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier declines from its initial level.
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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| Underliers: | Russell 2000 index and Dow Jones industrial average
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| Amount: | $3,775,000
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| Maturity: | April 11, 2022
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| Coupon: | 10.1% per year, payable quarterly if least-performing underlier closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless least-performing underlier finishes below final barrier value, in which case 1% loss for every 1% that least-performing underlier declines from initial level
|
| Call: | Automatically at par plus coupon if least-performing underlier closes at or above initial level on any quarterly potential autocall date after six months
|
| Initial levels: | 1,138.778 for Russell, 22,679.99 for Dow
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| Coupon barriers: | 797.145 for Russell, 15,875.993 for Dow, 70% of initial levels
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| Final barriers: | 797.145 for Russell, 15,875.993 for Dow, 70% of initial levels
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| Pricing date: | April 6
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| Settlement date: | April 9
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
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| Cusip: | 17328VG20
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