Published on 2/21/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.62 million 5.55% autocallable equity-linked notes on S&P, Russell
Chicago, Feb. 21 – Citigroup Global Markets Holdings Inc. priced $3.62 million of 5.55% autocallable equity-linked securities due Aug. 19, 2020 tied to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable semiannually.
The notes will be automatically redeemed at par plus the coupon if each index closes at or above its initial level on Aug. 14 or Feb. 14.
If the notes are not called and the final level of each index is at least 80% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%.
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 equity-linked securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $3,626,000
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Maturity: | Aug. 19, 2020
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Coupon: | 5.5%, payable semiannually
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Price: | Par
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Payout at maturity: | Par if each index closes above 80% of its initial value; otherwise, 1.25% for every 1% decline beyond 20%
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Call: | At par plus interest if the worst-performing asset closes at or above initial level on Aug. 14 or Feb 14
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Initial levels: | 2,753.03 for S&P, 1,542.943for Russell
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Downside thresholds: | 2,202.424 for S&P, 1,234.354 for Russell, 80% of initial levels
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Pricing date: | Feb. 14
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Settlement date: | Feb. 20
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.05%
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Cusip: | 17326YR73
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