Published on 6/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $769,000 of callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., June 26 – Citigroup Global Markets Holdings Inc. priced $769,000 of callable contingent coupon equity-linked securities due June 28, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 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 7.1% if each underlying index closes at or above its coupon barrier level, 55% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par quarterly after six months.
If each index finishes at or above its 55% 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, Nasdaq-100 index, S&P 500 index
|
| Amount: | $769,000
|
| Maturity: | June 28, 2024
|
| Contingent coupon: | 7.1% 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 after six months
|
| Initial levels: | 2,950.46 for S&P, 1,549.628 for Russell, 7,728.782 for Nasdaq
|
| Coupon barriers: | 1,622.753 for S&P, 852.295 for Russell, 4,250.830 for Nasdaq; 55% of initial levels
|
| Final barriers: | 1,622.753 for S&P, 852.295 for Russell, 4,250.830 for Nasdaq; 55% of initial levels
|
| Pricing date: | June 21
|
| Settlement date: | June 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17327TCC8
|
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