Published on 3/20/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $576,000 callable contingent coupon notes on indexes, ETF
By Sarah Lizee
Olympia, Wash., March 20 – Citigroup Global Markets Holdings Inc. priced $576,000 of callable contingent coupon notes due March 20, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 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 monthly coupon at an annualized rate of 8.4% if each underlying asset closes at or above its coupon barrier level, 60% of its initial price, on the related monthly observation date.
The notes will be callable in whole at par on any observation date after one year.
If each asset finishes at or above its barrier level, 60% 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, Russell 2000 index, SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $576,000
|
| Maturity: | March 20, 2023
|
| Contingent coupon: | 8.4% per year, payable monthly if each underlying asset closes at or above coupon barrier level on the related monthly 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 one year
|
| Initial values: | 2,822.48 for S&P, 1,553.538 for Russell and $29.77 for ETF
|
| Coupon barriers: | 1,693.488 for S&P, 932.123 for Russell and $17.862 for ETF, 60% of initial levels
|
| Barriers: | 1,693.488 for S&P, 932.123 for Russell and $17.862 for ETF, 60% of initial levels
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17326YCK0
|
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