Published on 3/13/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.93 million contingent coupon autocallables on three ETFs
By Wendy Van Sickle
Columbus, Ohio, March 13 – Citigroup Global Markets Holdings Inc. priced $3.93 million of autocallable contingent coupon equity-linked securities due March 7, 2022 linked to the worst performing of the Technology Select Sector SPDR fund, the SPDR S&P Biotech ETF and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly contingent coupon at the rate of 15% per year if the least-performing ETF closes at or above its coupon barrier value, 67.75% of its initial share price, on the relevant valuation date.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial share price on any valuation date.
The payout at maturity will be par unless any ETF finishes below its barrier value, 67.75% of its initial share price, in which case the payout will be a number of shares of the least-performing ETF equal to $1,000 divided by that ETF's initial share price.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETFs: | Technology Select Sector SPDR fund , SPDR S&P Bank ETF, SPDR S&P Biotech ETF
|
| Amount: | $3,933,000
|
| Maturity: | March 7, 2022
|
| Coupon: | 15% per year, payable quarterly if least-performing ETF closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below its barrier value, in which case a number of shares of the least-performing ETF equal to $1,000 divided by its initial share price
|
| Call: | Automatically at par if least-performing ETF closes at or above initial share price on any valuation date
|
| Initial share prices: | $93.48 for technology ETF, $40.47 for bank ETF, $92.70 for biotech ETF
|
| Coupon barriers: | $63.333 for technology ETF, $427.418 for bank ETF, $62.804 for biotech ETF, or 67.75% of initial share prices
|
| Buffer values: | $63.333 for technology ETF, $427.418 for bank ETF, $62.804 for biotech ETF, or 67.75% of initial share prices
|
| Pricing date: | March 2
|
| Settlement date: | March 6
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17324XXF2
|
© 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.
