Published on 6/28/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.07 million barrier securities on index, ETF basket
By Sarah Lizee
Olympia, Wash., June 28 – Citigroup Global Markets Holdings Inc. priced $3.07 million of 0% barrier securities due July 1, 2021 linked to a basket of the S&P 500 index, with a 40% weight, the iShares MSCI EAFE exchange-traded fund, with a 30% weight, the S&P MidCap 400 index with a 20% weight, and the Russell 2000 index with a 10% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final basket level is greater than or equal to the initial level, the payout at maturity will be par plus 150% of the basket return, up to a maximum return of 22.25%.
If the final basket level is less than the initial level but greater than or equal to the 75% barrier level, the payout will be par.
If the final basket level is less than the barrier level, investors will lose 1% for every 1% basket decline.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
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| Underlying basket: | S&P 500 index (40% weight), iShares MSCI EAFE exchange-traded fund (30% weight), S&P MidCap 400 index (20% weight) and Russell 2000 index (10% weight)
|
| Amount: | $3.07 million
|
| Maturity: | July 1, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final basket level is greater than or equal to the initial level, par plus 150% of the basket return, up to a maximum return of 22.25%; if the final basket level is less than the initial level but greater than or equal to the 75% barrier level, par; otherwise, investors will lose 1% for every 1% basket decline
|
| Initial levels: | 2,913.78 for S&P, $65.20 for ETF, 1,898.62 for MidCap 400, 1,517.775 for Russell
|
| Pricing date: | June 26
|
| Settlement date: | July 1
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17326YH66
|
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