Published on 8/7/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.81 million dual directional barrier securities on S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – Citigroup Global Markets Holdings Inc. priced $1.81 million of 0% dual directional barrier securities due Feb. 3, 2023 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the worse performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.19 times the return of that index.
If the final level of the worse performing index is less than its initial level but greater than or equal to its 70% barrier level, the payout will be par plus the absolute value of the worse performing index.
If the final level of the worse performing index is less than the 70% barrier level, investors will be fully exposed to the decline of the worse 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: | Dual directional barrier securities
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $1,813,000
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| Maturity: | Feb. 3, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worse performing index is greater than or equal to its initial level, par plus 1.18 times the return of that index; if the final level of the worse performing index is less than its initial level but greater than or equal to its 70% barrier level, par plus absolute value of that index return; otherwise, full exposure to the decline of the worse performing index
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| Initial levels: | 2,980.38 for S&P, 1,574.605 for Russell
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| Barrier levels: | 2,086.266 for S&P, 1,102.224 for Russell; 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17327TUU8
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