Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.19 million contingent coupon autocallables linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $4.19 million of autocallable contingent coupon equity-linked securities due Oct. 3, 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 month, the notes pay a contingent coupon at the rate of 7.5% 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 month.
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: | $4,192,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 7.5% per year, payable monthly if least-performing underlier closes at or above coupon barrier value on valuation date for that month
|
| 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
|
| 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: | 26,916.83 for Dow, 7,749.449 for Nasdaq, 1,523.373 for Russell
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| Coupon barriers: | 18,841.781 for Dow, 5,424.614 for Nasdaq, 1,066.361 for Russell, 70% of initial levels
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| Barrier levels: | 16,150.098 for Dow, 4,649.669 for Nasdaq, 914.024 for Russell, 60% of initial levels
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17327TJX5
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