Published on 4/11/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.05 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 11 – Citigroup Global Markets Holdings Inc. priced $1.05 million of callable contingent coupon notes due April 10, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the MSCI Emerging Markets index, 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 10.55% if each underlying asset closes at or above its coupon barrier level, 70% of its initial level, on the related monthly observation date.
The notes will be callable in whole at par quarterly after six months.
If each asset finishes at or above its 60% 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, MSCI Emerging Markets index
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| Amount: | $1,049,000
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| Maturity: | April 10, 2025
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| Contingent coupon: | 10.55% per year, payable each month that each underlying asset closes at or above coupon barrier on observation date for that month
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| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
|
| Call option: | Callable quarterly at par after six months
|
| Initial values: | 2,867.19 for S&P, 1,556.064 for Russell and 1,070.09 for Emerging Markets
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| Coupon barriers: | 2,007.033 for S&P, 1,089.245 for Russell and 749.063 for Emerging Markets; 70% of initial levels
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| Barrier levels: | 1,720.314 for S&P, 761.815 for Russell and 642.054 for Emerging Markets; 60% of initial levels
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| Pricing date: | April 1
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| Settlement date: | April 4
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
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| Cusip: | 17326YB96
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