Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.25 million 7% single observation ELKS on Amazon
By Sarah Lizee
Olympia, Wash., July 5 – Citigroup Global Markets Holdings Inc. priced $1.25 million of 7% single observation Equity Linked Securities due July 2, 2020 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The payout at maturity will be par of $5,000 in cash unless the stock finishes below the downside threshold level, 80% of the initial share price, in which case the payout will be a number of shares equal to $5,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Single observation Equity Linked Securities
|
| Underlying stock: | Amazon.com, Inc. (Nasdaq: AMZN)
|
| Amount: | $1.25 million
|
| Maturity: | July 2, 2020
|
| Coupon: | 7%, payable monthly
|
| Price: | Par of $5,000
|
| Payout at maturity: | If stock finishes below downside threshold price, 2.62566 shares; otherwise, par in cash
|
| Initial level: | $1,904.28
|
| Downside threshold: | $1,523.424, 80% of initial price
|
| Pricing date: | June 27
|
| Settlement date: | July 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XPB0
|
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