Published on 4/13/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $618,000 contingent coupon autocallables linked to S&P, Stoxx
Chicago, April 13 – Citigroup Global Markets Holdings Inc. priced $618,000 of autocallable contingent coupon equity-linked securities due March 29, 2023 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7% per year if the lesser-performing index closes at or above its knock-in value, 70% of its initial level, on the valuation date for that quarter.
After one year, the notes will be automatically called at par if the lesser-performing index closes at or above its initial level on any quarterly potential autocall date.
The payout at maturity will be par unless either index closes below its 70% final barrier value, in which case investors will lose 1% for every 1% that the lesser-performing index 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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| Underlying indexes: | S&P 500 and Euro Stoxx 50
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| Amount: | $618,000
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| Maturity: | March 29, 2023
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| Coupon: | 7% per year, payable quarterly if lesser-performing index closes at or above coupon barrier value on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index closes below its final barrier value, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level
|
| Call: | After one year, notes will be automatically called at par if lesser-performing index closes at or above initial level on any quarterly potential autocall date
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| Initial levels: | 2,715.11 for Stoxx, 2,447.33 for S&P
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| Coupon barrier levels: | 1,900.577 for Stoxx, 1,713.131 for S&P, or 70% of initial levels
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| Final barrier values: | 1,900.577 for Stoxx, 1,713.131 for S&P, or 70% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17328VBZ2
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