Published on 10/22/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $7.38 million barrier securities on S&P 500, Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 22 – Citigroup Global Markets Holdings Inc. priced $7.38 million of 0% barrier securities due Oct. 27, 2025 linked to the worst performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the worse performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.61 times the return of that index.
If the final level of the worse performing index is less than its initial level but greater than or equal to its 60% barrier level, the payout will be par.
If the final level of the worse performing index is less than the 60% barrier level, investors will be fully exposed to the decline of the worse performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Barrier securities
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| Underlying indexes: | S&P 500, Dow Jones industrial average
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| Amount: | $7,384,000
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| Maturity: | Oct. 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worse performing index is greater than or equal to its initial level, par plus 1.61 times the return of that index; if the final level of the worse performing index is less than its initial level but greater than or equal to its 60% barrier level, par; otherwise, full exposure to the decline of the worse performing index
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| Initial levels: | 2,986.2 for S&P, 26,770.2 for Dow
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| Barrier levels: | 1,791.72 for S&P, 16,062.12 for Dow; 60% of initial levels
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17327TKA3
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