Published on 3/12/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $700,000 contingent coupon notes linked to S&P, Russell, Dow
By Angela McDaniels
Tacoma, Wash., March 12 – Citigroup Global Markets Holdings Inc. priced $700,000 of callable contingent coupon equity-linked securities due March 11, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 8.2% per year if the least-performing index closes at or above its barrier level, 75% of its initial level, on the valuation date for that quarter.
The notes are callable at par quarterly.
The payout at maturity will be par unless the least-performing index finishes below its barrier level, in which case investors will be exposed to the least-performing index’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000, S&P 500 and Dow Jones industrial average
|
| Amount: | $700,000
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| Maturity: | March 11, 2021
|
| Coupon: | 8.2% per year, payable quarterly if least-performing index closes at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing index finishes below barrier level, in which case exposure to least-performing index’s decline from initial level
|
| Call option: | At par quarterly
|
| Initial index levels: | 2,743.07 for S&P 500, 1,521.884 for Russell 2000 and 25,450.24 for Dow
|
| Barrier levels: | 2,057.303 for S&P 500, 1,141.413 for Russell 2000 and 19,087.680 for Dow; 75% of initial levels
|
| Pricing date: | March 8
|
| Settlement date: | March 13
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17326YPX8
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