Published on 9/23/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.1 million callable contingent coupon notes on three indexes
By Sarah Lizee
Olympia, Wash., Sept. 23 – Citigroup Global Markets Holdings Inc. priced $2.1 million callable contingent coupon equity-linked securities due Sept. 23, 2024 tied to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly coupon at an annualized rate of 6.6% if the worst performing index closes above its 70% coupon barrier value on the relevant valuation date.
The notes may be called at par plus the coupon, in whole but not in part, at the option of the issuer on any quarterly contingent coupon payment date after one year.
The payout at maturity will be par plus any coupon due if the worst performing index closes above its 60% final barrier value.
Otherwise investors will be fully exposed to the losses of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average
|
| Amount: | $2,104,000
|
| Maturity: | Sept. 23, 2024
|
| Coupon: | 6.6% annualized rate, payable quarterly is worst performing index closes above 70% coupon barrier value
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due if worst performing index closes above 60% final barrier value, otherwise full exposure to losses of worst performing index
|
| Call: | At par plus any coupon due at option of issuer on any quarterly contingent coupon payment date after one year
|
| Initial levels: | 7,888.556 for Nasdaq, 1,568.344 for Russell and 27,147.08 for Dow
|
| Coupon barrier levels: | 5,521.989 for Nasdaq, 1,097.841 for Russell and 19,002.956 for Dow, 70% of initial levels
|
| Final barrier values: | 4,733.134 for Nasdaq, 941.006 for Russell and 16,288.248 for Dow, 60% of initial levels
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 23
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17327TEG7
|
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