Published on 5/14/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.5 million callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., May 14 – Citigroup Global Markets Holdings Inc. priced $2.5 million of callable contingent coupon notes due May 15, 2025 linked to the least performing of the Nasdaq-100 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 semiannual coupon at an annualized rate of 8.5% if each underlying asset closes at or above its coupon barrier level, 70% of its initial level, on the related semiannual observation date.
The notes will be callable in whole at par quarterly after one year.
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
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $2.5 million
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| Maturity: | May 15, 2025
|
| Contingent coupon: | 8.5% per year, payable each six months that each underlying asset closes at or above coupon barrier on observation date for that period
|
| 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 one year
|
| Initial values: | 7,586.531 for Nasdaq-100, 1,572.993 for Russell and 25,942.37 for Dow
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| Coupon barriers: | 5,310.572 for Nasdaq-100, 1,101.095 for Russell and 18,159.659 for Dow; 70% of initial levels
|
| Barrier levels: | 4,551.919 for Nasdaq-100, 943.796 for Russell and 15,565.422 for Dow; 60% of initial levels
|
| Pricing date: | May 10
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| Settlement date: | May 15
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17326YXA9
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