Published on 5/3/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $560,000 contingent coupon autocallables on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 3 – Citigroup Global Markets Holdings Inc. priced $560,000 of autocallable contingent coupon equity linked securities due Oct. 29, 2020 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 5.5% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that period.
The notes are called at par if each asset closes at or above its initial level on any quarterly call determination date from October 2019 through July 2020.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing asset.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying assets: | Russell 2000 index and S&P 500 index
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| Amount: | $560,000
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| Maturity: | Oct. 29, 2020
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| Coupon: | 5.5% annualized, payable each quarter that each asset closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus unless either index finishes below its initial level and either index ever closes below its 70% knock-in level during life of notes, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each asset closes at or above its initial level on any quarterly call determination date from October 2019 through July 2020
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| Initial levels: | 2,926.17 for S&P, 1,575.61 for Russell
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| Coupon barriers: | 2,048.319 for S&P, 1,102.928 for Russell; 70% of initial levels
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| Knock-in levels: | 2,048.319 for S&P, 1,102.928 for Russell; 70% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.375%
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| Cusip: | 17326YZ66
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