Published on 10/23/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.4 million callable contingent coupon notes on Russell, Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – Citigroup Global Markets Holdings Inc. priced $1.4 million of callable contingent coupon equity-linked securities due Oct. 23, 2024 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 6.7% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that month.
The notes will be callable in whole at par plus any coupon due on any quarterly autocall valuation date beginning in October 2020.
If each index finishes at or above its final barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon. 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, Nasdaq-100 index, Dow Jones industrial average
|
Amount: | $1,398,000
|
Maturity: | Oct. 23, 2024
|
Contingent coupon: | 6.7% per year, payable each month that each index closes at or above coupon barrier on the valuation date for that month
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above final barrier, par plus the coupon; otherwise, full exposure to losses of least-performing index
|
Call option: | In whole at par plus any coupon due on any quarterly call valuation date beginning in October 2020
|
Initial levels: | 7,868.491 for Nasdaq, 1,535.482 for Russell, 26,770.2 for Dow
|
Coupon barriers: | 5,507.944 for Nasdaq, 1,074.837 for Russell, 18,739.14 for Dow; 70% of initial levels
|
Final barriers: | 4,721.095 for Nasdaq, 921.289 for Russell, 16,062.12 for Dow; 60% of initial levels
|
Pricing date: | Oct. 18
|
Settlement date: | Oct. 23
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 4.125%
|
Cusip: | 17327TLP9
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.