Published on 1/8/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $4.13 million 13.26% contingent coupon callables tied to indexes, fund
By Susanna Moon
Chicago, Jan. 8 – Citigroup Global Markets Holdings Inc. priced $4.13 million of callable contingent coupon equity-linked securities due Dec. 23, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.26% if each underlying asset closes at or above its 80% coupon barrier on each day during that quarter.
The notes are callable at par on any interest payment date after six months.
The payout at maturity will be par unless any asset closes below its 55% trigger level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying assets: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $4,126,000
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| Maturity: | Dec. 23, 2022
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| Coupon: | 13.26% annualized, payable quarterly if each asset closes at or above 80% coupon barrier on each trading day for that quarter
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| Price: | Par
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| Payout at maturity: | If each asset closes above 55% trigger, par; otherwise, 1% loss for each 1% decline of worst performing index or fund
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| Call option: | At par on any interest payment date beginning in June 2019
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| Initial levels: | 2,467.42 for S&P, 1,326.002 for Russell and $58.58 for fund
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| Coupon barriers: | 1,973.936 for S&P, 1,060.802 for Russell and $46.864 for fund, 80% of initial levels
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| Trigger levels: | 1,357.081 for S&P, 729.301 for Russell and $32.219 for fund, 55% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17326Y5V4
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