Published on 7/4/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $875,000 callable contingent coupon notes on Russell, S&P
By Kiku Steinfeld
Chicago, July 5 – Citigroup Global Markets Holdings Inc. priced $875,000 of callable contingent coupon equity-linked securities due June 14, 2024 tied to the worst performing of the Russell 2000 index and the S&P 500 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 6.3% if each underlying index closes at or above its coupon barrier level, 55% of its initial price, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon on any quarterly redemption date after one year.
If each index finishes at or above its barrier level, 55% of its initial level, the payout at maturity will be par plus the coupon. 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 equity-linked securities
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $875,000
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| Maturity: | June 14, 2024
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| Contingent coupon: | 6.3%, payable quarterly if each underlying index closes at or above coupon barrier level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par plus coupon; otherwise, full exposure to losses of least-performing index
|
| Call option: | Callable at par plus any coupon on any quarterly redemption date after one year
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| Initial index levels: | 1,514.391 for Russell and 2,873.34 for S&P 500
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| Coupon barriers: | 832.915 for Russell and 1,580.337 for S&P 500, 55% of initial levels
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| Final barriers: | 832.915 for Russell and 1,580.337 for S&P 500, 55% of initial levels
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| Pricing date: | June 7
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| Settlement date: | June 14
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17326YRX6
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