Published on 12/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.19 million callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., Dec. 26 – Citigroup Global Markets Holdings Inc. priced $2.19 million of callable contingent coupon equity-linked securities due Dec. 24, 2029 linked to the least performing of the Dow Jones industrial average, 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 8% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The notes are callable at par plus any coupon on any quarterly call date.
The payout at maturity will be par unless any index finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 and Nasdaq-100
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| Amount: | $2,193,000
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| Maturity: | Dec. 24, 2029
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| Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call: | At par plus any coupon on any quarterly date
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| Initial levels: | 28,376.96 for Dow, 1,667.094 for Russell 2000 and 8,641.291 for Nasdaq-100
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| Coupon barrier levels: | 21,282.720 for Dow, 1,250.320 for Russell 2000 and 6,480.968 for Nasdaq-100; 75% of initial levels
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| Barrier levels: | 18,445.024 for Dow, 1,083.611 for Russell 2000 and 5,616.839 for Nasdaq-100; 65% of initial levels
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17327TPN0
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