Published on 8/30/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $650,000 contingent coupon autocallables linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 30 – Citigroup Global Markets Holdings Inc. priced $650,000 of contingent coupon autocallable notes due Aug. 27, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each month, the notes pay a contingent coupon at the rate of 6% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that month.
Beginning in August 2020, the notes will be automatically called at par if each index closes at or above its initial level on any monthly observation date.
The payout at maturity will be par unless either index finishes below its buffer level, 80% of its initial level, in which case investors will lose 1% for every 1% decline of the lesser performing index beyond 20%
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent coupon autocallable notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $650,000
|
| Maturity: | Aug. 27, 2024
|
| Coupon: | Each month, notes pay contingent coupon at rate of 6% per year unless either index closes below coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its buffer level, 80% of its initial level, in which case 1% loss for every 1% decline of the lesser performing index beyond 20%
|
| Call: | Beginning in August 2020, automatically at par if each index closes at or above initial level on any monthly observation date
|
| Initial levels: | 1,472.713 for Russell, 2,887.94 for S&P
|
| Coupon barrier/buffers: | 1,178.17 for Russell, 2,310.352 for S&P; 80% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.75%
|
| Cusip: | 17327TQQ2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
