Published on 10/21/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1 million 7.5% autocallable equity-linked notes on indexes
By Sarah Lizee
Olympia, Wash., Oct. 21 – Citigroup Global Markets Holdings Inc. priced $1 million of 7.5% autocallable equity-linked securities due Oct. 21, 2021 tied to the worst performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable semiannually.
The notes will be automatically redeemed at par plus the coupon if each index closes at or above its initial level on any quarterly review date.
If the notes are not called and the final level of each index is at least 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $1 million
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| Maturity: | Oct. 21, 2021
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| Coupon: | 7.5%, payable semiannually
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| Price: | Par
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| Payout at maturity: | Par if each index finishes above 70% of its initial value; otherwise, 1% for every 1% decline
|
| Call: | At par plus the coupon if each index closes at or above its initial level on any quarterly review date
|
| Initial levels: | 2,989.69 for S&P, 1,525.057 for Russell and 27,001.98 for Dow
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| Downside thresholds: | 2,092.783 for S&P, 1,067.540 for Russell and 18,901.386 for Dow, 70% of initial levels
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17327TMY9
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