Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.04 million contingent coupon autocallables on S&P, Stoxx
By Sarah Lizee
Olympia, Wash., July 5 – Citigroup Global Markets Holdings Inc. priced $1.04 million of autocallable contingent coupon equity linked securities due July 2, 2024 linked to the worst performing of 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 Global Markets Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.25% if each underlying index closes at or above its 75% 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 one year.
The payout at maturity will be par unless either underlying index finishes below its 75% knock-in level, 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.
|
| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying indexes: | Euro Stoxx 50 index and S&P 500 index
|
| Amount: | $1.04 million
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| Maturity: | July 2, 2024
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| Coupon: | 6.25% annualized, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlying index finishes below its knock-in level, in which case investors will be fully exposed to any losses of the worst performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly call determination date after one year
|
| Initial levels: | 3,442.38 for Stoxx, 2,924.92 for S&P
|
| Coupon barriers: | 2,581.785 for Stoxx, 2,193.690 for S&P; 75% of initial levels
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| Knock-in levels: | 2,581.785 for Stoxx, 2,193.690 for S&P; 75% of initial levels
|
| Pricing date: | June 27
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| Settlement date: | July 2
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17326YM37
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