Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.24 million contingent coupon autocallables on indexes
By Sarah Lizee
Olympia, Wash., April 1 – Citigroup Global Markets Holdings Inc. priced $1.24 million of autocallable contingent coupon equity linked securities due April 2, 2024 linked to the worst 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 Global Markets Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.8% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that period.
The notes are called at par if each asset closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the contingent coupon, unless any underlying asset finishes below its 70% barrier level, in which case investors will be fully exposed to any losses of the worst performing asset.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying assets: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $1,244,000
|
| Maturity: | April 2, 2024
|
| Coupon: | 7.8% annualized, payable each quarter that each asset closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent coupon, if any, unless any index finishes below final barrier level, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each asset closes at or above its initial level on any quarterly determination date
|
| Initial levels: | 25,625.59 for Dow, 1,522.231 for Russell, 7,308.193 for Nasdaq
|
| Coupon barriers: | 17,937.913 for Dow, 1,065.562 for Russell, 5,115.735 for Nasdaq; 70% of initial levels
|
| Final barrier levels: | 17,937.913 for Dow, 1,065.562 for Russell, 5,115.735 for Nasdaq; 70% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | April 1
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17326YM86
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