Published on 10/21/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $265,000 notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., Oct. 21 – Citigroup Global Markets Holdings Inc. priced $265,000 of 0% market-linked notes due Oct. 20, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s final level is greater than its initial level, the payout at maturity will be par plus the lesser-performing index’s return, subject to a maximum return of 27%.
If the lesser-performing index’s final level is less than its initial level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level, subject to a minimum payout of $950 per $1,000 principal amount of notes.
The note are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Market-linked notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $265,000
|
| Maturity: | Oct. 20, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing index’s final level is greater than initial level, par plus lesser-performing index’s return, subject to 21.2% maximum return; if lesser-performing index’s final level is less than initial level, 1% loss for every 1% that lesser-performing index declines from initial level, subject to minimum payout of $950 per $1,000 principal amount of notes
|
| Initial levels: | 2,997.95 for S&P 500 and 1,541.844 for Russell 2000
|
| Pricing date: | Oct. 17
|
| Settlement date: | Oct. 22
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17327TTR7
|
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