Published on 12/9/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.74 million autocallable securities on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – Citigroup Global Markets Holdings Inc. priced $2.74 million of 0% autocallable securities due Dec. 2, 2024 linked to the worst performing of the S&P 500 index 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 are called at par plus a premium of 9% per year if each asset closes at or above its initial level on any annual call valuation date other than the final one.
The premium for the final valuation date is 45% and will be paid if each index closes above its initial level.
Otherwise, the payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing asset.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | S&P 500 index, Russell 2000 index
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| Amount: | $2,737,000
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| Maturity: | Dec. 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | 45% if each index finishes above initial level; otherwise, par unless any underlying asset finishes below its trigger value, in which case full exposure to any losses of worst performing asset
|
| Call: | At par plus a premium of 9% per year if each asset closes at or above its initial value on any annual call valuation date other than final one
|
| Initial levels: | 3,140.52 for S&P, 1,624.231 for Russell
|
| Trigger values: | 1,884.312 for S&P, 974.539 for Russell; 60% of initial values
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17327TCP9
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