Published on 6/4/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $13.50 million callable contingent coupon notes on S&P, Russell, MSCI EM
By Marisa Wong
Morgantown, W.Va., June 4 – Citigroup Global Markets Holdings Inc. priced $13,495,000 of callable contingent coupon notes due Nov. 16, 2021 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 quarterly coupon at an annualized rate of 9.15% if each underlying index closes at or above its coupon barrier level, 65.5% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par quarterly.
If each index finishes at or above its 65.5% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
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 indexes: | S&P 500 index, Russell 2000 index, MSCI Emerging Markets
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| Amount: | $13,495,000
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| Maturity: | Nov. 16, 2021
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| Contingent coupon: | 9.15% per year, payable each quarter that each underlying index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par quarterly
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| Initial values: | 2,881.40 for S&P, 1,572.993 for Russell and 1,033.44 for EM
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| Coupon barriers: | 1,887.317 for S&P, 1,030.310 for Russell and 676.903 for EM; 65.5% of initial values
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| Barrier levels: | 1,887.317 for S&P, 1,030.310 for Russell and 676.903 for EM; 65.5% of initial values
|
| Pricing date: | May 10
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| Settlement date: | May 15
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
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| Cusip: | 17326YJX5
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