Published on 10/7/2020 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.98 million autocallable contingent coupon equity notes on Nasdaq, Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – Citigroup Global Markets Holdings Inc. priced $1.98 million of autocallable contingent coupon equity-linked securities due Sept. 30, 2025 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 6% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any index finishes below its barrier level, 70% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1,975,000
|
| Maturity: | Sept. 30, 2025
|
| Coupon: | 6% per year, paid quarterly, unless any index closes below coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | 11,151.13 for Nasdaq, 27,173.96 for Dow, 1,474.908 for Russell
|
| Coupon barrier levels: | 7,805.791 for Nasdaq, 19,021.772 for Dow, 1,032.436 for Russell; 70% of initial levels
|
| Final barrier levels: | 7,805.791 for Nasdaq, 19,021.772 for Dow, 1,032.436 for Russell; 70% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 5%
|
| Cusip: | 17328WCD8
|
|
|
© 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.
