Published on 11/1/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $10.4 million 8.55% contingent coupon callables on indexes
By Susanna Moon
Chicago, Nov. 1 – Citigroup Global Markets Holdings Inc. priced $10.4 million of callable contingent coupon equity linked securities due Oct. 27, 2025 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.55% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that month.
The notes are callable at par on any determination date after six months.
The payout at maturity will be par unless either underlying asset closes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worse performing fund.
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 Global Markets Inc.
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| Issue: | Callable contingent coupon equity linked securities
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| Underlying assets: | Russell 2000 index, S&P 500 index
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| Amount: | $10.4 million
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| Maturity: | Oct. 27, 2025
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| Coupon: | 8.55% annualized, payable monthly if each asset closes at or above 65% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | If each asset closes at or above knock-in level, par; otherwise, 1% loss for each 1% decline of worse performing asset
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| Call option: | At par on any interest payment date beginning in 2019
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| Initial levels: | 1,539.501 for Russell, 2,755.88 for S&P
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| Coupon barriers: | 1,000.676 for Russell, 1,791.322 for S&P, 65% of initial levels
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| Knock-in levels: | 923.701 for Russell, 1,653.528 for S&P, 60% of initial levels
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| Pricing date: | Oct. 22
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| Settlement date: | Oct. 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17326YG67
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