Published on 8/6/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.19 million contingent coupon notes linked to S&P, Russell, EM
By Angela McDaniels
Tacoma, Wash., Aug. 6 – Citigroup Global Markets Holdings Inc. priced $1.19 million of callable contingent coupon equity-linked securities due July 29, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.65% per year if each index closes at or above its barrier level, 70% of its initial level, on the determination date for that quarter.
The notes are callable at par quarterly.
The payout at maturity will be par unless the least-performing index finishes below its barrier level, in which case investors will be exposed to the least-performing index’s decline from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000, S&P 500 and MSCI Emerging Markets
|
| Amount: | $1,187,000
|
| Maturity: | July 29, 2022
|
| Coupon: | 8.65% per year, payable quarterly if each index closes at or above barrier level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing index finishes below barrier level, in which case exposure to least-performing index’s decline from initial level
|
| Call option: | At par quarterly
|
| Initial levels: | 3,025.86 for S&P 500, 1,578.967 for Russell 2000 and 1,048.66 for MSCI Emerging Markets
|
| Barrier levels: | 2,118.102 for S&P 500, 1,105.277 for Russell 2000 and 734.062 for MSCI Emerging Markets, or 70% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17327TLZ7
|
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