Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1 million dual directional market-linked notes on S&P
By Kiku Steinfeld
Chicago, Aug. 13 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% dual directional market-linked notes due Aug. 5, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
A knock-out event will occur if the index closes above 115.9% of its initial level or below 84.1% of its initial level on any trading day during the life of the notes.
If a knock-out event occurs, the payout at maturity will be par plus 3%.
If a knock-out event does not occur, the payout will be par plus the absolute value of the index return.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional market-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,000,000
|
| Maturity: | Aug. 5, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index closes above 115.9% of initial level or below 84.1% of initial level, par plus 3%; otherwise, par plus the absolute value of the index return
|
| Initial level: | 2,932.05
|
| Upside knock-out level: | 3,398.25, 115.9% of initial level
|
| Downside knock-out level: | 2,465.85, 84.1% of initial level
|
| Pricing date: | Aug. 2
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| Settlement date: | Aug. 7
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17327TDB9
|
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