Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.86 million autocallable contingent coupon securities on three stocks
By Wendy Van Sickle
Columbus, Ohio, June 5 – Citigroup Global Markets Holdings Inc. priced $2.86 million of autocallable contingent coupon equity-linked securities due May 31, 2019 linked to the common stocks of Advanced Micro Devices, Inc., American Airlines Group Inc. and Ulta Salon, Cosmetics & Fragrance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 14.25% if all the stocks close at or above the barrier level, 50% of the initial level, on the valuation date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above the initial share price on any quarterly redemption date from August 2017 through February 2019.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below the 50% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
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 contingent coupon equity-linked securities
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| Underlying stocks: | Advanced Micro Devices, Inc., American Airlines Group Inc. and Ulta Salon, Cosmetics & Fragrance, Inc.
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| Amount: | $2,856,000
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| Maturity: | May 31, 2019
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| Coupon: | 14.25% per year, payable monthly if all stocks close at or above barrier level on valuation date for that month
|
| Price: | Par
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| Payout at maturity: | If final price of each stock is greater than or equal to barrier level, par plus final coupon; otherwise, 1% loss for each 1% decline of worst-performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly valuation date from August 2017 through February 2019
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| Initial share prices: | $10.98 for Advanced, $48.02 for American, $293.04 for Utla
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| Barrier levels: | $5.49 for Advanced, $24.01 for American, $146.52 for Utla, 50% of initial share prices
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.35%
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| Cusip: | 17324CJC1
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