Published on 8/6/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.86 million contingent coupon autocallables linked to indexes
By Sarah Lizee
Olympia, Wash., Aug. 6 – Citigroup Global Markets Holdings Inc. priced $2.86 million of autocallable contingent coupon equity-linked securities due Aug. 5, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 7% per year if the least-performing index closes at or above its coupon barrier value, 70% of its initial level, on the valuation date for that month.
Beginning July 31, 2020, the notes will be automatically called at par if the least-performing index closes at or above its initial level on any quarterly potential autocall date.
The payout at maturity will be par unless the least-performing index finishes below its final barrier value, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and Dow Jones industrial average
|
| Amount: | $2,859,000
|
| Maturity: | Aug. 5, 2024
|
| Coupon: | 7% per year, payable monthly if least-performing index closes at or above coupon barrier value on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing index finishes below final barrier value, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Beginning July 31, 2020, notes will be automatically called at par if least-performing index closes at or above initial level on any quarterly potential autocall date
|
| Initial levels: | 7,878.780 for Nasdaq-100, 1,574.605 for Russell 2000 and 26,864.27 for Dow
|
| Coupon barriers: | 5,515.146 for Nasdaq-100, 1,102.224 for Russell 2000 and 18,804.989 for Dow, or 70% of initial levels
|
| Final barriers: | 4,727.268 for Nasdaq-100, 944.763 for Russell 2000 and 16,118.562 for Dow, or 60% of initial levels
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17327TBR6
|
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