Published on 10/8/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.2 million dual directional barrier notes tied to S&P, Dow, Russell
By Susanna Moon
Chicago, Oct. 8 – Citigroup Global Markets Holdings Inc. priced $2.2 million of 0% dual directional barrier securities due Oct. 3, 2023 linked to the lesser performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 139% of the gain of the worst performing index.
If any index falls by up to its 60% barrier level, the payout at maturity will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional barrier securities
|
| Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000
|
| Amount: | $2.2 million
|
| Maturity: | Oct. 3, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If each index gains, par plus 139% of return of worst performing index; if any index falls by up to 40%, par plus absolute return of worst performing index; otherwise, 1% loss for each 1% decline of worst performing index
|
| Initial levels: | 1,691.608 for Russell, 2,905.97 for S&P and 26,385.28 for Dow
|
| Trigger levels: | 1,184.126 for Russell, 1,014.965 for S&P and 15,831.168 for Dow; 60% of initial levels
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17326YJL1
|
|
|
|
|
© 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.
