Published on 11/18/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4.87 million jump autocallables on three indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $4.87 million of 0% jump securities with autocallable feature due Nov. 13, 2023 linked to the worst performing of the S&P 500 index, Euro Stoxx Banks index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus an annualized premium of 13.75% if each index closes at or above its initial level on any quarterly call date after one year.
The payout at maturity will be par plus 55% if each index finishes at or above its initial level. If the worst performing index declines by no more than 30%, the payout will be par. If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Euro Stoxx Banks index and Russell 2000 index
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| Amount: | $4.87 million
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| Maturity: | Nov. 13, 2023
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 13.75% a year if each index closes at or above initial level on any quarterly call review date after one year
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| Payout at maturity: | If each index finishes at or above initial level, par plus 55%; if worst performing index falls by up to 30%, par; otherwise, full exposure to decline of worst performing index
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| Initial levels: | 3,093.08 for S&P, 95.37 for Euro Stoxx Banks, 1,598.864 for Russell
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| Downside thresholds: | 2,165.156 for S&P, 66.759 for Euro Stoxx Banks, 1,119.205 for Russell; 70% of initial levels
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| Pricing date: | Nov. 8
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| Settlement date: | Nov. 14
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| Agent: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 17327P799
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