Published on 8/30/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $790,000 callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 30 – Citigroup Global Markets Holdings Inc. priced $790,000 of callable contingent coupon equity-linked securities due Aug. 30, 2029 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 9% if each underlying index closes at or above its coupon barrier level, 75% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par quarterly.
If each index finishes at or above its 60% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
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: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $790,000
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| Maturity: | Aug. 30, 2029
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| Contingent coupon: | 9% per year, payable each quarter that each underlying index closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing index
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| Call option: | At par quarterly
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| Initial levels: | 7,587.896 for Nasdaq, 1,472.713 for Russell, 2,887.94 for S&P
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| Coupon barriers: | 5,690.922 for Nasdaq, 1,104.535 for Russell, 2,165.955 for S&P; 75% of initial levels
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| Final barriers: | 4,552.738 for Nasdaq, 883.628 for Russell, 1,732.764 for S&P; 60% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17327TJZ0
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