Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2 million autocallables linked to Financial Select Sector SPDR fund
By Angela McDaniels
Tacoma, Wash., Aug. 13 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% autocallable securities due Aug. 14, 2029 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 12.1% per year if the fund closes at or above the initial share price on any annual valuation date.
If the notes are not called and the final share price is greater than or equal to the initial share price, the payout at maturity will be 221% of par.
If the final share price is less than the initial share price, investors will lose 1% for every 1% that the fund declines from its initial share price.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
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| Underlying fund: | Financial Select Sector SPDR fund
|
| Amount: | $2 million
|
| Maturity: | Aug. 14, 2029
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to initial share price, 221% of par; if final share price is less than initial share price, 1% loss for every 1% that fund declines from initial share price
|
| Call: | Automatically at par plus call premium of 12.1% per year if fund closes at or above initial share price on Aug. 17, 2020, Aug. 9, 2021, Aug. 9, 2022, Aug. 9, 2023, Aug. 9, 2024, Aug. 11, 2025, Aug. 10, 2026, Aug. 9, 2027, Aug. 9, 2028 or Aug. 9, 2029
|
| Initial share price: | $27.26
|
| Strike date: | Aug. 8
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 14
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17327TUH7
|
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