Published on 5/6/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $6.4 million 5.6% autocallable equity-linked notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 6 – Citigroup Global Markets Holdings Inc. priced $6.4 million of 5.6% autocallable equity-linked securities due Nov. 5, 2020 tied to the worst performing of the S&P 500 index and 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 quarterly.
The notes will be automatically redeemed at par plus the coupon if each index closes at or above its initial level on Nov. 1, 2019 or May 1, 2020.
If both indexes finish at or above 80% of their initial levels, the payout will be par.
Otherwise, investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%.
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: | Autocallable equity-linked securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $6,395,000
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Maturity: | Nov. 5, 2020
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Coupon: | 5.6%, payable quarterly
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Price: | Par
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Payout at maturity: | If both indexes finish at or above 80% of their initial levels, par; otherwise, investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%
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Call: | At par plus interest if the worst-performing asset closes at or above initial level on Nov. 1, 2019 or May 1, 2020
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Initial levels: | 2,945.83 for S&P, 1,591.211 for Russell
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Buffer levels: | 2,356.664 for S&P, 1,272.969 for Russell, 80% of initial levels
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Pricing date: | May 1
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Settlement date: | May 6
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.05%
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Cusip: | 17326Y3Y0
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