Published on 6/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.35 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, June 26 – Citigroup Global Markets Holdings Inc. priced $1.35 million of callable contingent coupon equity-linked securities due June 25, 2024 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 6% if each underlying index closes at or above its coupon barrier level, 64.25% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par quarterly after one year.
If each index finishes at or above its 60% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,354,000
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| Maturity: | June 25, 2024
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| Contingent coupon: | 6% per year, payable each quarter that each underlying index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par quarterly after one year
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| Initial levels: | 7,738.055 for Nasdaq, 1,563.495 for Russell, 26,753.17 for Dow
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| Coupon barriers: | 4,971.700 for Nasdaq, 1,004.546 for Russell, 17,188.912 for Dow; 64.25% of initial levels
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| Final barriers: | 4,642.833 for Nasdaq, 938.097 for Russell, 16,051.902 for Dow; 60% of initial levels
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| Pricing date: | June 20
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| Settlement date: | June 25
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17327TBU9
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