Published on 12/3/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $140,000 contingent coupon equity notes on Stoxx Banks, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 3 – Citigroup Global Markets Holdings Inc. priced $140,000 of contingent coupon equity linked securities due Nov. 29, 2024 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent semiannual coupon at an annualized rate of 6.1% if each index closes at or above its coupon barrier, 70% of its initial level, on the valuation date for that period.
If the notes are not called and the final level of each index is greater than or equal to its 70% final barrier level, the payout at maturity will be par plus the contingent coupon, if any. Otherwise, investors will be fully exposed to the decline of the worse performing index.
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: | Contingent coupon equity-linked securities
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| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $140,000
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| Maturity: | Nov. 29, 2024
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| Coupon: | 6.1% per year, payable semiannually if both indexes close at or above coupon barrier level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to final barrier level, par plus final coupon; otherwise, full exposure to decline of lesser performing index
|
| Initial levels: | 27,875.62 for Dow, 1,588.143 for Russell
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| Coupon barrier levels: | 19,512.934 for Dow, 1,112.26 for Russell, 70% of initial levels
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| Final barrier levels: | 19,512.934 for Dow, 1,112.26 for Russell, 70% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17327TJA5
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