Published on 2/5/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.5 million contingent coupon autocalls on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Citigroup Global Markets Holdings Inc. priced $1.5 million of autocallable contingent coupon equity linked securities due Aug. 5, 2020 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are called at par if each asset closes at or above its initial level on any determination date after six months.
The payout at maturity will be par unless either underlying asset ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Global Markets Inc.
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Issue: | Autocallable contingent coupon equity linked securities
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Underlying assets: | Russell 2000 index and S&P 500 index
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Amount: | $1,499,000
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Maturity: | Aug. 5, 2020
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Coupon: | 9.25% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each asset never closes below trigger level, par; otherwise, 1% loss for each 1% decline of worse performing asset
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Call: | At par if each asset closes at or above its initial level on any determination date after six months
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Initial levels: | 2,704.1 for S&P, 1,499.42 for Russell
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Coupon barriers: | 1,892.87 for S&P, 1,049.593 for Russell, 70% of initial levels
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Trigger levels: | 1,892.87 for S&P, 1,049.593 for Russell, 70% of initial levels
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.875%
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Cusip: | 17326YWN2
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