Published on 4/10/2017 in the Prospect News Structured Products Daily.
New Issue: Citi prices $676,000 3%-4.25% annual reset coupon notes tied to Russell
By Wendy Van Sickle
Columbus, Ohio, April 10 – Citigroup Global Markets Holdings Inc. priced $676,000 of annual reset coupon securities due March 31, 2022 linked to 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 annually. If the index return is at least zero, the coupon for that year will be 4.25%. Otherwise, the coupon will be 3%.
The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for each 1% decline beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Annual reset coupon securities
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Underlying index: | Russell 2000
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Amount: | $676,000
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Maturity: | March 31, 2022
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Coupon: | If index gains, 4.25%; if index falls, 3%; payable annually
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 15%, in which case 1% loss for each 1% decline beyond 15%
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Initial level: | 1,367.261
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Buffer level: | 1,162.172, 85% of initial level
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Pricing date: | March 28
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Settlement date: | March 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17324CG42
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