Published on 3/21/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.70 million autocallable securities on three indexes
By Marisa Wong
Morgantown, W.Va., March 21 – Citigroup Global Markets Holdings Inc. priced $1,698,000 of 0% autocallable securities due March 20, 2023 linked to 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 be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any of the first four annual valuation dates, the notes will be called at par plus a premium of 9.15% per year.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 45.75%.
If any index falls but none finish below the 70% trigger level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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: | Autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $1,698,000
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| Maturity: | March 20, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 45.75%; if any index falls but each finishes at or above trigger level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
|
| Call: | Automatically at par plus annualized premium of 9.15% if each index closes at or above its initial level on any of first four annual valuation dates
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| Initial levels: | 2,747.33 for S&P, 1,576.618 for Russell, 24,873.66 for Dow
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| Triggers: | 1,923.131 for S&P, 1,103.633 for Russell, 17,411.562 for Dow; 70% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.175%
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| Cusip: | 17324CSA5
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