Published on 4/24/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.49 million 8.8% contingent coupon callables tied to three indexes
By Susanna Moon
Chicago, April 24 – Citigroup Global Markets Holdings Inc. priced $1.49 million of callable contingent coupon equity-linked securities due April 20, 2023 linked to the worst 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 will pay a contingent quarterly coupon at an annual rate of 8.8% if each index closes at or above its 70% coupon barrier on the review date for that quarter.
The notes are callable at par on any review date after one year.
The payout at maturity will be par unless any index finishes below its 60% barrier level, 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 Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1.49 million
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| Maturity: | April 20, 2023
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| Coupon: | 8.8% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below 60% barrier, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any quarterly review date beginning in April 2019
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| Initial levels: | 2,706.39 for S&P, 1,579.802 for Russell and 24,786.63 for Dow
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| Coupon barriers: | 1,894.473 for S&P, 1,105.861 for Russell and 17,350.641 for Dow, 70% of initial levels
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| Trigger levels: | 1,623.834 for S&P, 947.8812 for Russell and 14,871.978 for Dow, 60% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17324CTP1
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