Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.48 million callable contingent coupon notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, July 26 – Citigroup Global Markets Holdings Inc. priced $1.48 million of callable contingent coupon notes due July 20, 2023 linked to the least performing of the Dow Jones industrial average, 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 pay a contingent monthly coupon at an annualized rate of 9.1% if each underlying index closes at or above its coupon barrier level, 70% of its initial price, on the observation date for that period.
The notes will be callable quarterly in whole at par after six months.
If each asset finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average, S&P 500 and Russell 2000
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| Amount: | $1,475,000
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| Maturity: | July 20, 2023
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| Contingent coupon: | 9.1% per year, payable monthly if each underlying asset closes at or above coupon barrier level observation date for that period
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
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| Call option: | Callable quarterly at par after six months
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| Initial index levels: | 25,064.36 for Dow, 2,798.43 for S&P 500 and 1,678.544 for Russell 2000
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| Coupon barriers: | 17,545.052 for Dow, 1,958.901 for S&P 500 and 1,174.981 for Russell 2000, 70% of initial levels
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| Barriers: | 17,545.052 for Dow, 1,958.901 for S&P 500 and 1,174.981 for Russell 2000, 70% of initial levels
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| Pricing date: | July 16
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| Settlement date: | July 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.975%
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| Cusip: | 17324CXF8
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