Published on 6/13/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $500,000 autocallable contingent coupon notes on indexes
Chicago, June 13 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity-linked securities due May 9, 2024 linked to the worst 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 5.15% if all underlyings close at or above their coupon barriers, 60% of their initial levels, on the valuation date for that quarter.
Beginning in May 2020 and ending in February 2024, the notes will automatically be called at par plus the coupon if all underlyings close at or above their initial levels on any quarterly valuation date.
The payout at maturity will be par plus the coupon if all three underliers close above their 60% final barrier values.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | S&P 500, Russell 2000 and the Nasdaq-100
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| Amount: | $500,000
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| Maturity: | May 9, 2024
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| Coupon: | 5.15% per year, payable quarterly if each underlying close at or above its coupon barrier on the valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If all three indexes close above their 60% final barrier value, par plus the coupon; otherwise, full exposure to loss of least performing index
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| Call: | At par plus the coupon if all underlyings close above their initial levels on a quarterly observation date beginning in May 2020 and ending in February 2024
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| Initial levels: | 2,932.47 for S&P, 1,614.976 for Russell 2000 and 7,794.093 for Nasdaq
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| Coupon barrier levels: | 1,759.482 for S&P, 968.986 for Russell 2000 and 4,676.456 for Nasdaq, 60% of initial levels
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| Final barrier values: | 1,759.482 for S&P, 968.986 for Russell 2000 and 4,676.456 for Nasdaq, 60% of initial levels
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| Pricing date: | May 6
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| Settlement date: | May 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17326Y6V3
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