Published on 7/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.35 million callable contingent coupon notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, July 26 – Citigroup Global Markets Holdings Inc. priced $1.35 million of callable contingent coupon notes due July 26, 2029 tied to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent semiannual coupon at an annualized rate of 10% if each underlying asset closes at or above its coupon barrier level, 75% of its initial price, on the related semiannual observation date.
The notes will be callable in whole at par on any observation date after one year.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
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 notes
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| Underlying assets: | Euro Stoxx 50 index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $1,349,000
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| Maturity: | July 26, 2029
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| Contingent coupon: | 10% per year, payable semiannually if each underlying asset closes at or above coupon barrier level on the related semiannual observation date
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
|
| Call option: | Callable at par on any observation date after one year
|
| Initial values: | 1,554.962 for Russell, 3,532.87 for Stoxx, $53.54 for ETF
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| Coupon barriers: | 1,166.222 for Russell, 2,649.653 for Stoxx, $40.155 for ETF, 75% of initial levels
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| Barriers: | 932.977 for Russell, 2,119.722 for Stoxx, $32.124 for ETF, 60% of initial levels
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| Pricing date: | July 23
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| Settlement date: | July 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.5%
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| Cusip: | 17327TDN3
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