Published on 1/22/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.63 million 6.6% autocallable equity-linked notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Jan. 22 – Citigroup Global Markets Holdings Inc. priced $2.63 million of 6.6% autocallable equity-linked securities due July 21, 2020 tied to the worst performing of 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 interest if each index closes at or above its initial level on July 16, 2019 or Jan. 16, 2020.
If the notes are not called and the final level of each index is at least 80% 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 beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying assets: | S&P 500, Russell 2000
|
| Amount: | $2,629,000
|
| Maturity: | July 21, 2020
|
| Coupon: | 6.6%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par if each asset’s final level equal to its initial level or no asset has closed below 80% of initial level during life of notes; otherwise, exposure to loss of worst-performing asset beyond 20%
|
| Call: | At par plus interest if the worst-performing asset closes at or above initial level on July 16, 2019 or Jan. 16, 2020
|
| Initial levels: | 2,584.96 for S&P, 1,438.807 for Russell
|
| Downside thresholds: | 2,067.968 for S&P, 1,151.046 for Russell, 80% of initial levels
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.005%
|
| Cusip: | 17326YRT5
|
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