Published on 9/3/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $418,000 contingent coupon autocallables linked to S&P, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – Citigroup Global Markets Holdings Inc. priced $418,000 of autocallable contingent coupon equity-linked securities due March 2, 2023 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6% per year if the lesser-performing underlier closes at or above its coupon barrier value, 77% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the lesser-performing underlier closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless the lesser-performing underlier finishes below its final barrier level, 77% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines from its initial level.
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 contingent coupon equity-linked securities
|
| Underliers: | S&P 500 index and Euro Stoxx 50 index
|
| Amount: | $418,000
|
| Maturity: | March 2, 2023
|
| Coupon: | 6% per year, payable quarterly if lesser-performing underlier closes at or above coupon barrier value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing underlier finishes below final barrier level, in which case 1% loss for every 1% that lesser-performing underlier declines from initial level
|
| Call: | Automatically at par if lesser-performing share price closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 2,869.16 for S&P and 3,370.47 for Stoxx
|
| Coupon barriers: | 2,209.253 for S&P and 2,595.262 for Stoxx, or 77% of initial levels
|
| Final barrier levels: | 2,209.253 for S&P and 2,595.262 for Stoxx, or 77% of initial levels
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17327TGU4
|
|
|
© 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.
