Published on 8/17/2020 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.1 million contingent coupon autocalls on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $1.1 million of autocallable contingent coupon equity-linked securities due Aug. 3, 2023 linked to the least performing of the S&P 500 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 9% if each index closes at or above its 80% coupon barrier value on the observation date for that month, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly call review date after six months.
The payout at maturity will be par unless any index finishes below its 60% final barrier value, in which case investors will be fully exposed to the decline of the worst performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $1.1 million
|
| Maturity: | Aug. 3, 2023
|
| Coupon: | 9% annualized, payable monthly if each index closes at or above coupon barrier on valuation date for that month, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above final barrier, 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 call review date after six months
|
| Initial levels: | 26,428.32 for Dow, 1,480.427 for Russell, 3,271.12 for S&P
|
| Coupon barriers: | 21,142.656 for Dow, 1,184.342 for Russell, 2,616.896 for S&P, 80% of initial levels
|
| Final barriers: | 15,856.992 for Dow, 888.256 for Russell, 1,962.672 for S&P, 60% of initial levels
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.85%
|
| Cusip: | 17328WFB9
|
|
|
© 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.
