Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $740,000 autocallable contingent coupon notes on Nasdaq, Dow
Chicago, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $740,000 of autocallable contingent coupon notes due Sept. 22, 2023 linked to the Nasdaq-100 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 5.4% if each index closes at or above its coupon barrier, 70% of its initial level, on the valuation date for that period.
The notes will be automatically called quarterly at par plus the coupon starting September 2020 if both underliers close above their initial values on a potential autocall date.
If the notes are not called and the final level of each index is greater than or equal to its 70% final barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, 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: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | Nasdaq-100 index and the Dow Jones industrial average
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| Amount: | $740,000
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| Maturity: | Sept. 22, 2023
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| Coupon: | 5.4% per year, payable quarterly if both indexes close at or above barrier level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to barrier level, par plus final coupon; otherwise, full exposure to decline of lesser performing index
|
| Call option: | Starting September 2020, at par plus coupon if both indexes close above their initial values on quarterly autocall date
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| Initial levels: | 7,901.792 for Nasdaq, 27,094.79 for Dow
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| Barrier levels: | 5,531.254 for Nasdaq, 18,966.353 for Dow, 70% of initial levels
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| Pricing date: | Sept. 19
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| Settlement date: | Sept. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17327TEV4
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