Published on 1/24/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.5 million callable contingent coupon notes on three indexes
By Sarah Lizee
Olympia, Wash., Jan. 24 – Citigroup Global Markets Holdings Inc. priced $1.5 million of callable contingent coupon notes due Jan. 23, 2024 linked to the least performing of the Nasdaq-100 index, 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.
The notes pay a contingent quarterly coupon at an annualized rate of 8.1% if each underlying index closes at or above its coupon barrier level, 65% of its initial price, on the observation date for that period.
The notes will be callable quarterly in whole at par.
If each asset finishes at or above its barrier level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Nasdaq-100, S&P 500 and Russell 2000
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| Amount: | $1.5 million
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| Maturity: | Jan. 23, 2024
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| Contingent coupon: | 8.1% per year, payable quarterly if each underlying asset closes at or above coupon barrier level observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
|
| Call option: | Callable quarterly at par
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| Initial index levels: | 6,784.608 for Nasdaq-100, 2,670.71 for S&P 500 and 1,482.501 for Russell 2000
|
| Coupon barriers: | 4,409.995 for Nasdaq-100, 1,735.962 for S&P 500 and 963.626 for Russell 2000, 65% of initial levels
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| Barriers: | 4,409.995 for Nasdaq-100, 1,735.962 for S&P 500 and 963.626 for Russell 2000, 65% of initial levels
|
| Pricing date: | Jan. 18
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| Settlement date: | Jan. 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17326YJ80
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