Published on 8/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.34 million contingent coupon autocallables linked to Russell, ETFs
By Wendy Van Sickle
Columbus, Ohio, Aug. 26 – Citigroup Global Markets Holdings Inc. priced $1.34 million of autocallable contingent coupon equity-linked securities due Aug. 24, 2023 linked to the least performing of the Russell 2000 index, the iShares MSCI EAFE ETF and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.5% per year if the least-performing underlier closes at or above its coupon barrier value, 60% of its initial share price, on the valuation date for that quarter.
Beginning in August 2020, the notes will be automatically called at par if the least-performing underlier closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the least-performing underlier finishes below its final barrier value, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier declines from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable contingent coupon equity-linked securities
|
Underliers: | Russell 2000 index, iShares MSCI EAFE ETF and SPDR S&P Oil & Gas Exploration & Production ETF
|
Amount: | $1,337,000
|
Maturity: | Aug. 24, 2023
|
Coupon: | 8.5% per year, payable quarterly if least-performing underlier closes at or above coupon barrier value on valuation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless least-performing underlier finishes below final barrier value, in which case 1% loss for every 1% that least-performing underlier declines from initial level
|
Call: | Beginning in August 2020, automatically at par if least-performing share price closes at or above initial level on any quarterly observation date
|
Initial levels: | 1,509.85 for index, $62.86 for EAFE and $22.24 for oil ETF
|
Coupon barriers: | 905.91 for index, $37.716 for EAFE and $13.344 for oil ETF, or 60% of initial levels
|
Final barriers: | 905.91 for index, $37.716 for EAFE and $13.344 for oil ETF, or 60% of initial levels
|
Pricing date: | Aug. 21
|
Settlement date: | Aug. 26
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 3.75%
|
Cusip: | 17327TFJ0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.