Published on 8/5/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.81 million of callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., Aug. 5 – Citigroup Global Markets Holdings Inc. priced $3.81 million of callable contingent coupon equity-linked securities due July 31, 2024 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average 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% 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 after one year.
If each index finishes at or above its 70% 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 equity-linked securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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Amount: | $3,805,000
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Maturity: | July 31, 2024
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Contingent coupon: | 7% per year, payable each quarter that each underlying index closes at or above coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing index
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Call option: | At par quarterly after one year
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Initial levels: | 27,192.45 for Dow, 1,578.967 for Russell, 8,016.953 for Nasdaq
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Coupon barriers: | 19,034.715 for Dow, 1,105.277 for Russell, 5,611.867 for Nasdaq; 70% of initial levels
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Final barriers: | 19,034.715 for Dow, 1,105.277 for Russell, 5,611.867 for Nasdaq; 70% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17327TBF2
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