Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1 million callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon equity-linked securities due Dec. 13, 2024 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and 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 pay a contingent monthly coupon at an annualized rate of 6% if each underlying index closes at or above its coupon barrier level, 70% of its initial level, on the related monthly observation date.
The notes will be callable in whole at par quarterly after one year.
If each index finishes at or above its 70% 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.
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Guarantor: | Citigroup Inc.
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Issue: | Callable contingent coupon equity-linked securities
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $1 million
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Maturity: | Dec. 13, 2024
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Contingent coupon: | 6% per year, payable each month that each underlying index closes at or above coupon barrier on observation date for that month
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Price: | Par
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Payout at maturity: | If each index finishes at or above final barrier, par; otherwise, full exposure to losses of least-performing index
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Call option: | At par quarterly after one year
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Initial levels: | 27,881.72 for Dow, 3,132.52 for S&P, 1,631.714 for Russell
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Coupon barriers: | 19,517.204 for Dow, 2,192.764 for S&P, 1,142.1998 for Russell; 70% of initial levels
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Final barriers: | 19,517.204 for Dow, 2,192.764 for S&P, 1,142.1998 for Russell; 70% of initial levels
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Pricing date: | Dec. 10
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Settlement date: | Dec. 13
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17327TW85
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