Published on 11/21/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.34 million callable contingent coupon notes on Russell, Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – Citigroup Global Markets Holdings Inc. priced $2.34 million of callable contingent coupon equity-linked securities due Nov. 21, 2024 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 6.05% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly call date after one year.
If each index finishes at or above its final barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $2,342,000
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| Maturity: | Nov. 21, 2024
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| Contingent coupon: | 6.05% per year, payable monthly when each index closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above final barrier, par plus the coupon; otherwise, full exposure to losses of least-performing index
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| Call option: | In whole at par plus any coupon due on any quarterly call date after one year
|
| Initial levels: | 28,036.22 for Dow, 1,592.341 for Russell, 8,328.479 for Nasdaq
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| Coupon barriers: | 19,625.354 for Dow, 1,114.639 for Russell, 1,114.639 for Nasdaq; 70% of initial levels
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| Final barriers: | 16,821.732 for Dow, 955.405 for Russell, 4,997.087 for Nasdaq; 60% of initial levels
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| Pricing date: | Nov. 18
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| Settlement date: | Nov. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17327TUB0
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