Published on 6/21/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $4.49 million callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., June 21 – Citigroup Global Markets Holdings Inc. priced $4.49 million of callable contingent coupon equity-linked securities due Dec. 3, 2021 linked to the least performing of the Russell 2000 index, the MSCI Emerging Markets index and the S&P 500 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 9.31% if each underlying index closes at or above its coupon barrier level, 70% 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% 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000 index, S&P 500 index, MSCI Emerging Markets index
|
| Amount: | $4,486,000
|
| Maturity: | Dec. 3, 2021
|
| Contingent coupon: | 9.31% per year, payable each quarter that each underlying index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par quarterly
|
| Initial levels: | 2,752.06 for S&P, 1,465.487 for Russell, 998.00 for EM
|
| Coupon barriers: | 1,926.442 for S&P, 1,025.841 for Russell, 698.600 for EM; 70% of initial levels
|
| Final barriers: | 1,788.839 for S&P, 952.567 for Russell, 648.700 for EM; 65% of initial levels
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17326YJQ0
|
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