Published on 4/25/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $831,000 market-linked notes tied to ETF basket
By Marisa Wong
Morgantown, W.Va., April 25 – Citigroup Global Markets Holdings Inc. priced $831,000 of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Oct. 3, 2023 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the SPDR S&P 500 ETF Trust with a 50% weight, the iShares Russell 2000 ETF with a 15% weight, the iShares MSCI EAFE ETF with a 15% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, the Invesco DB Commodity Index Tracking Fund with a 5% weight and the Vanguard Real Estate ETF with a 5% weight.
The payout at maturity will be par plus 1.25 times any basket gain, capped at par plus 47%. Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond the 15% buffer.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying basket: | SPDR S&P 500 ETF Trust (50% weight), iShares Russell 2000 ETF (15% weight), iShares MSCI EAFE ETF (15% weight), iShares MSCI Emerging Markets ETF (10% weight), Invesco DB Commodity Index Tracking Fund (5% weight) and Vanguard Real Estate ETF (5% weight)
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| Amount: | $831,000
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| Maturity: | Oct. 3, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.25 times any basket gain, capped at par plus 47%; par if the basket falls by up to 15%; 1% loss for every 1% decline beyond the 15% buffer
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| Initial values: | $282.48 for SPDR S&P, $153.09 for iShares Russell, $64.86 for iShares EAFE, $42.92 for iShares EM, $15.90 for Invesco DB, $86.91 for Vanguard Real Estate
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 3.75%
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| Cusip: | 17326YC20
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