Published on 9/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $423,000 contingent coupon autocallables linked to Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – Citigroup Global Markets Holdings Inc. priced $423,000 of autocallable contingent coupon equity-linked securities due Sept. 25, 2024 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 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 5.3% per year if the least-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 least-performing underlier closes at or above its initial level on any quarterly observation date after a year.
The payout at maturity will be par unless the least-performing underlier finishes below barrier level, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-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.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable contingent coupon equity-linked securities
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Underliers: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $423,000
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Maturity: | Sept. 25, 2024
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Coupon: | 5.3% per year, payable quarterly if least-performing underlier closes at or above coupon barrier value on valuation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless least-performing underlier finishes below barrier level, in which case 1% loss for every 1% that least-performing underlier declines from initial level
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Call: | Automatically at par if least-performing share price closes at or above initial level on any quarterly observation date after a year
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Initial levels: | 26,935.07 for Dow, 7,823.553 for Nasdaq, 1,559.759 for Russell
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Coupon barriers: | 18,854.549 for Dow, 5,476.487 for Nasdaq, 1,091.831 for Russell, 70% of initial levels
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Barrier levels: | 16,161.042 for Dow, 4,694.132 for Nasdaq, 935.855 for Russell, 60% of initial levels
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Pricing date: | Sept. 20
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Settlement date: | Sept. 25
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.025%
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Cusip: | 17327TSS6
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