Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.4 million callable contingent coupon notes on indexes
By Marisa Wong
Morgantown, W.Va., April 1 – Citigroup Global Markets Holdings Inc. priced $3.4 million of callable contingent coupon notes due March 16, 2022 linked to the least performing of 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 are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 6% if each underlying asset closes at or above its coupon barrier level, 50% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par on any contingent coupon payment date after one year.
If each asset finishes at or above its 50% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
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 notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $3.4 million
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| Maturity: | March 16, 2022
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| Contingent coupon: | 6% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
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| Call option: | Callable at par on any contingent coupon payment date after one year
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| Initial values: | 2,748.93 for S&P, 1,523.629 for Russell and 25,473.23 for Dow
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| Coupon barriers: | 1,374.465 for S&P, 761.815 for Russell and 12,736.615 for Dow; 50% of initial levels
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| Barrier levels: | 1,374.465 for S&P, 761.815 for Russell and 12,736.615 for Dow; 50% of initial levels
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| Strike date: | March 7
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| Pricing date: | March 11
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| Settlement date: | March 13
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17326Y6N1
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