Published on 6/20/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.69 million callable contingent coupon notes on S&P, Russell, ETF
By Wendy Van Sickle
Columbus, Ohio, June 20 – Citigroup Global Markets Holdings Inc. priced $1.69 million of callable contingent coupon notes due June 22, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the SPDR S&P Biotech ETF, 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 7.7% if each underlying asset closes at or above its coupon barrier level, 60% of its initial level, on the related monthly observation date.
The notes will be callable in whole at par quarterly after one year.
If each asset finishes at or above its 60% barrier 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 indexes: | S&P 500 index, Russell 2000 index, SPDR S&P Biotech ETF
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| Amount: | $1,691,000
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| Maturity: | June 22, 2023
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| Contingent coupon: | 7.7% per year, payable each month that each underlying asset closes at or above coupon barrier on observation date for that month
|
| 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: | At par quarterly after one year
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| Initial values: | 2,889.67 for S&P, 1,532.752 for Russell and $85.35 for ETF
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| Coupon barriers: | 1,733.802 for S&P, 919.651 for Russell and $51.21 for ETF; 60% of initial values
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| Barrier levels: | 1,733.802 for S&P, 919.651 for Russell and $51.21 for ETF; 60% of initial values Pricing date: | June 17
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| Settlement date: | June 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17327TAB2
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