Published on 6/17/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $716,000 callable contingent coupon notes on indexes
By Sarah Lizee
Olympia, Wash., June 17 – Citigroup Global Markets Holdings Inc. priced $716,000 of callable contingent coupon equity-linked securities due June 18, 2029 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 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 quarterly coupon at an annualized rate of 8.55% if each underlying index closes at or above its coupon barrier level, 75% of its initial level, on the related quarterly observation date.
After one year, the notes will be callable in whole at par quarterly.
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.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
|
| Amount: | $716,000
|
| Maturity: | June 18, 2029
|
| Contingent coupon: | 8.55% 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
|
| Initial levels: | 2,891.64 for S&P, 1,535.804 for Russell, 3,390.50 for Stoxx
|
| Coupon barriers: | 2,168.730 for S&P, 1,151.853 for Russell, 2,542.875 for Stoxx; 75% of initial levels
|
| Final barriers: | 1,734.984 for S&P, 921.482 for Russell, 2,034.300 for Stoxx; 60% of initial levels
|
| Pricing date: | June 13
|
| Settlement date: | June 18
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17326YH33
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