Published on 6/12/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.41 million callable contingent coupon notes on indexes
By Marisa Wong
Morgantown, W.Va., June 12 – Citigroup Global Markets Holdings Inc. priced $1.41 million of callable contingent coupon equity-linked securities due May 29, 2024 linked to the least performing of the S&P 500 index, 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 Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 8.5% if each underlying index closes at or above its coupon barrier level, 70% of its initial level, on the related quarterly observation date.
After one year, the notes will be callable in whole at par quarterly.
If each index finishes at or above its 60% barrier level, the payout at maturity will be par plus the final coupon, if any. 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index Amount: | $1,405,000
|
| Maturity: | May 29, 2024
|
| Contingent coupon: | 8.5% per year, payable each quarter that each underlying index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par quarterly after one year
|
| Initial values: | 2,822.24 for S&P, 1,501.380 for Russell and 7,307.934 for Nasdaq
|
| Coupon barriers: | 1,975.568 for S&P, 1,050.966 for Russell and 5,115.554 for Nasdaq; 70% of initial levels
|
| Final barriers: | 1,693.344 for S&P, 900.828 for Russell and 4,384.760 for Nasdaq; 60% of initial levels
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17326YE51
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
