Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.61 million contingent coupon callables on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Citigroup Global Markets Holdings Inc. priced $2.61 million of callable contingent coupon equity linked securities due Aug. 8, 2025 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.
The notes will pay a contingent quarterly coupon at an annual rate of 8.908% if each underlying asset closes at or above its 70% coupon barrier on the related quarterly observation date.
The notes will be callable at par quarterly.
The payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
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: | Callable 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: | $2,608,000
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| Maturity: | Aug. 8, 2025
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| Coupon: | 8.908% annualized, payable each quarter that each asset 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 asset finishes at or above final barrier level, par; otherwise, 1% loss for each 1% decline of worse performing asset
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| Call option: | Quarterly at par
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| Initial levels: | 25,714.74 for Dow, 1,487.414 for Russell and 7,415.691 for Nasdaq
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| Coupon barriers: | 18,002.418 for Dow, 1,041.19 for Russell and 5,190.984 for Nasdaq, 70% of initial levels
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| Final barrier levels: | 15,430.644 for Dow, 892.448 for Russell and 4,449.415 for Nasdaq, 60% of initial levels
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| Pricing date: | Aug. 5
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| Settlement date: | Aug. 8
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
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| Cusip: | 17327TJF4
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