Published on 6/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4.14 million callable contingent coupon notes on index, ETF
By Sarah Lizee
Olympia, Wash., June 26 – Citigroup Global Markets Holdings Inc. priced $4.14 million of callable contingent coupon notes due June 28, 2022 tied to the least performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent semiannual coupon at an annualized rate of 13% if each underlying asset closes at or above its coupon barrier level, 65% of its initial price, on the related semiannual observation date.
The notes will be callable in whole at par on any observation date after six months.
If each asset finishes at or above its barrier level, 65% 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.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | S&P 500 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $4,139,000
|
| Maturity: | June 28, 2022
|
| Contingent coupon: | 13% per year, payable semiannually if each underlying asset closes at or above coupon barrier level on the related semiannual observation date
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
|
| Call option: | Callable at par on any observation date after six months
|
| Initial values: | 2,950.46 for index, $26.71 for ETF
|
| Coupon barriers: | 1,917.799 for index, $17.362 for ETF, 65% of initial levels
|
| Barriers: | 1,917.799 for index, $17.362 for ETF, 65% of initial levels
|
| Pricing date: | June 21
|
| Settlement date: | June 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17326YZL3
|
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