Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.71 million 5.5% autocallable equity-linked notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Aug. 8 – Citigroup Global Markets Holdings Inc. priced $2.71 million of 5.5% autocallable equity-linked securities due Feb. 11, 2021 tied to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable semiannually.
The notes will be automatically redeemed at par plus the coupon if each index closes at or above its initial level on Feb. 6, 2020 and Aug. 6, 2020.
If both indexes finish at or above their downside threshold, 80% of the initial levels, the payout will be par.
Otherwise, investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $2.71 million
|
| Maturity: | Feb. 11, 2021
|
| Coupon: | 5.5%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | If both indexes finish at or above their downside thresholds, par; otherwise, investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%
|
| Call: | At par plus interest if the worst-performing asset closes at or above initial level on Feb. 6, 2020 and Aug. 6, 2020
|
| Initial levels: | 2,844.74 for S&P, 1,487.414 for Russell
|
| Downside thresholds: | 2,275.792 for S&P, 1,189.931 for Russell, 80% of initial levels
|
| Pricing date: | Aug. 6
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| Settlement date: | Aug. 9
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.05%
|
| Cusip: | 17327TQX7
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