Published on 12/19/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.23 million autocallable barrier securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – Citigroup Global Markets Holdings Inc. priced $1.23 million of 0% autocallable barrier securities due Dec. 19, 2024 linked to the least performing of the Russell 2000 index 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 will be called at par plus a call premium of 10% per year if each index closes at or above 95% its initial level on any annual call date through Dec. 18, 2023.
If the final level of each index return is positive or flat, the payout at maturity will be par plus the index return. The payout will be par if the final level of each index is less than its initial level but greater than or equal to the barrier level, 70% of the initial level. If either index finishes below the barrier level, investors will be fully exposed to the decline of the least 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 barrier securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $1,233,000
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| Maturity: | Dec. 19, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index return is positive, par plus least performing index return; par if final level of least performing index is less than initial level but greater than or equal to barrier level; full exposure to decline if least performing index finishes below barrier level
|
| Call: | At par plus call premium of 10% per year if index closes at or above 95% of initial level on any annual call date through Dec. 18, 2023
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| Initial index levels: | 1,649.939 for Russell, 3,191.45 for S&P
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| Call levels: | 1,567.442 for Russell, 3,031.878 for S&P, 95% of initial levels
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| Trigger levels: | 1,154.957 for Russell, 2,234.015 for S&P, 70% of initial levels
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 19
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.175%
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| Cusip: | 17327TK88
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