Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.69 million callable contingent coupon notes on three indexes
By Sarah Lizee
Olympia, Wash., April 1 – Citigroup Global Markets Holdings Inc. priced $3.69 million of callable contingent coupon notes due March 31, 2021 linked to the lesser performing of the MSCI Emerging Markets 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 9.05% if each underlying asset closes at or above its coupon barrier level, 70% of its initial price, on the observation date for that period.
The notes will be callable in whole at par on any quarterly redemption date beginning in December 2020.
If each asset finishes at or above its barrier level, 70% 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.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | MSCI Emerging Markets, S&P 500 and Russell 2000
|
| Amount: | $3,688,000
|
| Maturity: | March 31, 2021
|
| Contingent coupon: | 9.05%, 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 at par on any quarterly redemption date beginning in December 2020
|
| Initial index levels: | 2,818.46 for S&P, 1,528.166 for Russell and 1,050.45 for EM
|
| Coupon barriers: | 1,972.922 for S&P, 1,069.716 for Russell and 735.315 for EM, 70% of initial levels
|
| Barriers: | 1,972.922 for S&P, 1,069.716 for Russell and 735.315 for EM, 70% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17326YUZ7
|
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