Published on 4/22/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.12 million contingent income callable notes on indexes
By Marisa Wong
Morgantown, W.Va., April 22 – Citigroup Global Markets Holdings Inc. priced $3.12 million of callable contingent coupon notes due April 4, 2024 linked to the least 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.
The notes pay a contingent quarterly coupon at an annualized rate of 7.15% if each underlying asset closes at or above its coupon barrier level, 60% 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 from September 2019 through December 2023.
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.
|
Guarantor: | Citigroup Inc.
|
Issue: | Callable contingent coupon notes
|
Underlying assets: | S&P 500 index, Russell 2000 index
|
Amount: | $3,117,000
|
Maturity: | April 4, 2024
|
Contingent coupon: | 7.15% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | If each asset finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing asset
|
Call option: | Callable at par on any contingent coupon payment date from September 2019 through December 2023
|
Initial values: | 2,834.40 for S&P, 1,539.739 for Russell
|
Coupon barriers: | 1,700.640 for S&P, 923.843 for Russell; 60% of initial levels
|
Final barriers: | 1,700.640 for S&P, 923.843 for Russell; 60% of initial levels
|
Pricing date: | March 29
|
Settlement date: | April 3
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 0.25%
|
Cusip: | 17326YES1
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.