Published on 5/26/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.81 million callable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, May 26 – Citigroup Global Markets Holdings Inc. priced $1.81 million of callable contingent coupon equity linked securities notes due May 20, 2024 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
The notes pay a contingent monthly coupon at an annualized rate of 7.5% if each asset closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after six months.
If each asset finishes at or above its final barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will be exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Callable contingent coupon equity linked securities
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| Underlying assets: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $1,808,000
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| Maturity: | May 20, 2024
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| Contingent coupon: | 7.5% per year, payable monthly if each asset closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above final barrier, par; otherwise, exposure to losses of least-performing asset
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| Call option: | In whole at par plus any coupon due on any monthly valuation date after six months
|
| Initial levels: | 23,685.42 for Dow, 1,256.992 for Russell, 2,863.70 for S&P
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| Coupon barriers: | 14,211.252 for Dow, 754.195 for Russell, 1,718.220 for S&P; 60% of initial levels
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| Final barriers: | 14,211.252 for Dow, 754.195 for Russell, 1,718.220 for S&P; 60% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
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| Cusip: | 17328VN22
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