Published on 5/3/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $4.8 million callable contingent coupon notes on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, May 3 – Citigroup Global Markets Holdings Inc. priced $4.8 million of callable contingent coupon notes due Oct. 28, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the MSCI Emerging Markets 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 8.45% if each underlying index closes at or above its coupon barrier level, 65% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par quarterly.
If each index finishes at or above its 65% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexs: | S&P 500 index, Russell 2000 index, MSCI Emerging Markets
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Amount: | $4,795,000
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Maturity: | Oct. 28, 2021
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Contingent coupon: | 8.45% per year, payable each quarter that each underlying index closes at or above coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
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Call option: | Callable quarterly at par
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Initial values: | 2,926.17 for S&P, 1,575.612 for Russell and 1,076.71 for MSCI
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Coupon barriers/barriers: | 1,902.011.408 for S&P, 1,024.148 for Russell and 699.862 for MSCI; 65% of initial levels
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.75%
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Cusip: | 17326Y3L8
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