Published on 2/4/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $885,000 contingent coupon autocallables linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 4 – Citigroup Global Markets Holdings Inc. priced $885,000 of autocallable contingent coupon equity-linked securities due Jan. 31, 2025 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 4.5% 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.
Beginning in January 2021, 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 call observation date.
The payout at maturity will be par unless the least-performing underlier finishes below its final barrier value, 60% 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, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $885,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 4.5% per year, payable monthly if least-performing underlier closes at or above coupon barrier value on valuation date for that period
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| 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
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| Call: | Beginning in January 2021, automatically at par plus coupon if least-performing underlier closes at or above initial level on any quarterly call observation date
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| Initial levels: | 1,658.314 for Russell, 9,090.933 for Nasdaq, 28,722.85 for Dow
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| Coupon barriers: | 1,160.82 for Russell, 6,363.653 for Nasdaq, 20,105.995 for Dow, 70% of initial levels
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| Final barriers: | 994.988 for Russell, 5,454.6 for Nasdaq, 17,233.71 for Dow, 60% of initial levels
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17327T3V6
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