Published on 9/20/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.79 million contingent coupon autocallables linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 20 – Citigroup Global Markets Holdings Inc. priced $2.79 million of autocallable contingent coupon equity-linked securities due Sept. 21, 2022 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.
Each quarter, the notes pay a contingent coupon at the rate of 6% per year if the lesser-performing underlier closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the lesser-performing underlier closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the lesser-performing underlier finishes below barrier level, 70% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier 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.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underliers: | S&P 500 index and Russell 2000 index
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| Amount: | $2,785,000
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| Maturity: | Sept. 21, 2022
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| Coupon: | 6% per year, payable quarterly if lesser-performing underlier closes at or above coupon barrier value on valuation date for that quarter
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| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing underlier finishes below barrier level, in which case 1% loss for every 1% that lesser-performing underlier declines from initial level
|
| Call: | Automatically at par if lesser-performing share price closes at or above initial level on any quarterly observation date
|
| Initial levels: | 2,997.96 for S&P, 1,584.597 for Russell
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| Coupon barriers: | 2,088.572 for S&P, 1,109.218 for Russell, 70% of initial levels
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| Barrier levels: | 2,088.572 for S&P, 1,109.218 for Russell, 70% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 19
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17327TYM2
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