By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – Citigroup Global Markets Holdings Inc. $13.96 million of drawdown securities due Feb. 7, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 10% if the index does not close below its 90% trigger level any day that month.
If the index does not close below its 90% trigger level any day on or prior to the Nov. 9, 2019 final review date, the securities will be automatically redeemed at par plus the final coupon payment on the final contingent coupon payment date.
Otherwise, investors will have 111.11% exposure to losses or gains of the index beyond 10%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Drawdown securities
|
| Underlying index: | S&P 500
|
| Amount: | $13,963,000
|
| Maturity: | Feb. 7, 2023
|
| Coupon: | 10%, payable monthly if the index does not close below its trigger level any day that month
|
| Price: | Par
|
| Call: | At par plus final coupon if index has not closed below 90% of initial level any day on or prior to the Nov. 9, 2019 final review date
|
| Payout at maturity: | Par plus sum of index return and 10% buffer multiplied by par, multiplied by 111.11%
|
| Initial level: | 2,723.06
|
| Trigger value: | 2,450.754, 90% of the initial value
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 7
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
| Cusip: | 17326YRE8
|
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