Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $6.12 million callable contingent coupon notes on ETFs
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Citigroup Global Markets Holdings Inc. priced $6.12 million of callable contingent coupon notes due Feb. 3, 2022 tied to the least performing of the Invesco QQQ trust, series 1, the iShares Russell 2000 ETF and the SPDR Dow Jones industrial average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 9.09% if each underlying asset closes at or above its coupon barrier level, 75% of its initial price, on the related quarterly observation date.
The notes will be callable in whole at par on any observation date.
If each asset finishes at or above its barrier level, 75% 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: | Invesco QQQ trust, series 1, iShares Russell 2000 ETF and SPDR Dow Jones industrial average ETF trust
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| Amount: | $6,115,000
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| Maturity: | Feb. 3, 2022
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| Contingent coupon: | 9.09% per year, payable quarterly if each underlying asset closes at or above coupon barrier level on the related quarterly 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
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| Call option: | Callable at par on any observation date
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| Initial values: | $191.10 for QQQ, $156.56 for Russell, $286.52 for Dow
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| Coupon barriers: | $143.325 for QQQ, $117.42 for Russell, $201.39 for Dow, 75% of initial levels
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| Barriers: | $143.325 for QQQ, $117.42 for Russell, $201.39 for Dow, 75% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324XQM5
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