Published on 10/22/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $9.48 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 22 – Citigroup Global Markets Holdings Inc. priced $9.48 million of 9.35% autocallable securities due Oct. 22, 2020 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
If each index closes at or above its initial level on either quarterly valuation date after six months, the notes will be called at par.
If the notes are not called and each index finishes at or above its initial level or no index ever closes below its knock-in level, 65% of the initial level, any day during the life of the notes, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100 index
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| Amount: | $9,479,000
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| Maturity: | Oct. 22, 2020
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| Coupon: | 9.35%, payable monthly
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level or no index ever closes below knock-in level any day during life of notes, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
|
| Call: | Automatically at par plus if each index closes at or above its initial level on either quarterly valuation date after six months
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| Initial levels: | 2,986.2 for S&P, 1,535.482 for Russell, 7,868.491 for Nasdaq
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| Knock-ins: | 2,090.34 for S&P, 1,074.837 for Russell, 5,507.944 for Nasdaq; 70% of initial levels
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17327TUC8
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