Published on 4/22/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $4.02 million callable contingent coupon notes on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, April 22 – Citigroup Global Markets Holdings Inc. priced $4.02 million of callable contingent coupon notes due Oct. 21, 2025 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.
The notes pay a contingent quarterly coupon at an annualized rate of 7.8% if each underlying asset closes at or above its coupon barrier level, 65% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par quarterly after one year.
If each asset finishes at or above its 65% 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 assets: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $4,015,000
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| Maturity: | Oct. 21, 2025
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| Contingent coupon: | 7.8% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that quarter
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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
|
| Call option: | Callable quarterly at par after one year
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| Initial values: | 2,888.32 for S&P, 1,579.141 for Russell and 26,143.05 for Dow
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| Coupon barriers/barriers: | 1,877.408 for S&P, 1,026.442 for Russell and 16,992.983 for Dow; 65% of initial levels
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| Pricing date: | April 16
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| Settlement date: | April 22
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.2%
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| Cusip: | 17326YL87
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