Published on 1/30/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.05 million dual directional barrier notes on S&P, Dow
By Marisa Wong
Morgantown, W.Va., Jan. 30 – Citigroup Global Markets Holdings Inc. priced $1.05 million of 0% dual directional digital securities due July 27, 2022 linked to the S&P 500 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.
If the worse performing index finishes at or above its initial level, the payout at maturity will be par plus the return of the worse performing index.
If the worse performing index falls but finishes at or above its 59.98% barrier level, the payout will be par plus the absolute value of the return of the worse performing index.
Otherwise, investors will be fully exposed to the decline of the lesser performing index.
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: | Dual directional barrier digital securities
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| Underlying indexes: | S&P 500, Dow Jones industrial average
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| Amount: | $1.05 million
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| Maturity: | July 27, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worse performing index finishes at or above its initial level, par plus return of the worse performing index; if the worse performing index falls but finishes at or above barrier level, par plus the absolute value of the return of the worse performing index; otherwise, full exposure to decline of the lesser performing index
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| Initial levels: | 2,632.90 for S&P, 24,404.48 for Dow
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| Barrier levels: | 1,579.213 for S&P, 14,637.807 for Dow, 59.98% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17326YMN3
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