Published on 6/12/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $149,000 contingent coupon autocallables on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, June 12 – Citigroup Global Markets Holdings Inc. priced $149,000 of autocallable contingent coupon equity linked securities due Sept. 3, 2020 linked to the worst performing of the Euro Stoxx 50 index, 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 Global Markets Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each underlying index closes at or above its 70% coupon barrier on the observation date for that period.
The notes are called at par if each index closes at or above its initial level on any quarterly call determination date after six months.
The payout at maturity will be par unless any underlying index finishes below its initial level and any index ever closes below its 70% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $149,000
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| Maturity: | Sept. 3, 2020
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| Coupon: | 9% annualized, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index closes below knock-in level during life of notes, in which case 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call determination date after six months
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| Initial levels: | 3,280.43 for Stoxx, 1,465.487 for Russell, 2,752.06 for S&P
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| Coupon barriers: | 2,296.301 for Stoxx, 1,025.841 for Russell, 1,926.442 for S&P; 70% of initial levels
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| Knock-in levels: | 2,296.301 for Stoxx, 1,025.841 for Russell, 1,926.442 for S&P; 70% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.9%
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| Cusip: | 17326YUT1
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