Published on 4/16/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.41 million contingent coupon autocallables on Wal-Mart, Costco
By Marisa Wong
Morgantown, W.Va., April 16 – Citigroup Global Markets Holdings Inc. priced $1.41 million of autocallable contingent coupon equity-linked securities due Oct. 3, 2019 linked to the common stocks of Wal-Mart Stores, Inc. and Costco Wholesale Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each stock closes at or above its 77.5% coupon barrier on the related quarterly observation date.
The notes will be called at par if each stock closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless either stock finishes below its 77.5% barrier level, in which case the payout will be a number of shares of the worse performing stock equal to $1,000 divided by the initial price of that stock or, at the issuer’s option, the cash value of those shares.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Wal-Mart Stores, Inc. (Symbol: WMT) and Costco Wholesale Corp. (Symbol: COST)
|
| Amount: | $1,411,000
|
| Maturity: | Oct. 3, 2019
|
| Coupon: | 8.5% annualized, payable each quarter that each stock closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below barrier, in which case number of shares of worse performing stock equal to applicable equity ratio or, at issuer’s option, cash equivalent
|
| Call: | At par if each stock closes at or above its initial price on any quarterly call observation date
|
| Initial prices: | $87.77 for Wal-Mart, $183.61 for Costco
|
| Coupon barriers: | $68.022 for Wal-Mart, $142.298 for Costco; 77.5% of initial prices
|
| Barrier levels: | $68.022 for Wal-Mart, $142.298 for Costco; 77.5% of initial prices
|
| Equity ratios: | 11.39341 for Wal-Mart, 5.44633 for Costco
|
| Pricing date: | March 28
|
| Settlement date: | April 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17324XMG2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
