Published on 3/21/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.57 million autocallable securities on three indexes
By Sarah Lizee
Olympia, Wash., March 21 – Citigroup Global Markets Holdings Inc. priced $3.57 million of 0% autocallable securities due March 22, 2024 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any valuation date other than the final one, the notes will be called at par plus a premium of 8.35% per year.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 41.75%.
If any index falls but none finish below the 65% trigger level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500, Russell 2000, Dow Jones Industrial Average
|
| Amount: | $3,567,000
|
| Maturity: | March 22, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 41.75%; if any index falls but each finishes at or above trigger level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
|
| Call: | Automatically at par plus annualized premium of 8.35% if each index closes at or above its initial level on any valuation date other than the final one
|
| Initial levels: | 2,832.57 for S&P, 1,554.985 for Russell, 25,887.38 for Dow
|
| Triggers: | 1,841.171 for S&P, 1,010.740 for Russell, 16,826.797 for Dow; 65% of initial levels
|
| Pricing date: | March 19
|
| Settlement date: | March 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17326Y4L7
|
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