Published on 7/9/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $5.24 million contingent coupon autocallables on Dow, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, July 9 – Citigroup Global Markets Holdings Inc. priced $5.24 million of autocallable contingent coupon equity linked securities due July 3, 2024 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 7.75% 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 after one year.
The payout at maturity will be par unless any underlying asset finishes below its 60% barrier level, 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: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $5,236,000
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| Maturity: | July 3, 2024
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| Coupon: | 7.75% annualized, payable each month that each asset closes at or above coupon barrier on observation date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below final barrier level, 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 after one year
|
| Initial levels: | 26,599.96 for Dow, 1,566.572 for Russell, 7,671.075 for Nasdaq
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| Coupon barriers: | 18,619.972 for Dow, 1,096.6 for Russell, 5,369.753 for Nasdaq; 70% of initial levels
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| Final barrier levels: | 15,959.976 for Dow, 939.943 for Russell, 4,602.645 for Nasdaq; 60% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17326YS64
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