Published on 8/23/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $719,000 callable contingent coupon notes on indexes, fund
By Sarah Lizee
Olympia, Wash., Aug. 23 – Citigroup Global Markets Holdings Inc. priced $719,000 of callable contingent coupon equity-linked securities due Aug. 24, 2023 linked to the least performing of the Russell 2000 index, the SPDR S&P Biotech ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 7.7% if each underlying asset closes at or above its coupon barrier level, 60% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par quarterly.
If each asset finishes at or above its 60% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | Russell 2000 index, SPDR S&P Biotech ETF, S&P 500 index
|
| Amount: | $719,000
|
| Maturity: | Aug. 24, 2023
|
| Contingent coupon: | 7.7% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing asset
|
| Call option: | At par quarterly
|
| Initial levels: | 2,924.43 for S&P, 1,509.850 for Russell, $83.26 for fund
|
| Coupon barriers: | 1,754.658 for S&P, 905.910 for Russell, $49.956 for fund; 60% of initial levels
|
| Final barriers: | 1,754.658 for S&P, 905.910 for Russell, $49.956 for fund; 60% of initial levels
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17327TRG3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
