Published on 8/21/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $500,000 autocallable contingent coupon notes on indexes
Chicago, July 21 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon notes due Aug. 5, 2024 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 7% if each index closes at or above its coupon barrier, 60% of its initial level, on the valuation date for that period.
The notes will be callable monthly at par plus any coupon starting in October.
If the notes are not called and the final level of each index is greater than or equal to its 60% final barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, 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: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500, Russell 2000 and the Nasdaq-100
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| Amount: | $500,000
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| Maturity: | Aug. 5, 2024
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| Coupon: | 7% per year, payable monthly if all indexes close at or above barrier level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to barrier level, par plus final coupon; otherwise, full exposure to decline of lesser performing index
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| Call option: | Monthly at par plus any coupon starting in October
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| Initial levels: | 3,020.97 for S&P 500, 1,569.025 for Russell and 7,989.082 for Nasdaq
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| Barrier levels: | 1,812.582 for S&P 500, 941.415 for Russell and 4,793.449 for Nasdaq, 60% of initial levels
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| Pricing date: | July 29
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| Settlement date: | July 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17327TTB2
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