Published on 8/1/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.66 million contingent coupon autocalls tied to S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – Citigroup Global Markets Holdings Inc. priced $1.66 million of autocallable contingent coupon equity-linked securities due July 29, 2021 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 7.6% if each index closes at or above its 80% coupon barrier on the observation date.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par plus any coupon due unless any index finishes below its 70% final barrier level, in which case investors will be fully exposed to any losses of the worse 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 Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
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| Amount: | $1,655,000
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| Maturity: | July 29, 2021
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| Coupon: | 7.6% annualized, payable semiannually if each f index closes at or above 80% coupon barrier on review date, in which case any previously unpaid contingent coupon will also be paid
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| Price: | Par
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| Payout at maturity: | If each index closes above final barrier, par plus any contingent coupon due; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any review date after one year
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| Initial levels: | 2,820.4 for S&P, 1,680.195 for Russell, 25,241.94 for Dow
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| Coupon barriers: | 2,256.32 for S&P, 1,344.156 for Russell, 20,193.552 for Dow, 80% of initial levels
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| Final barriers: | 1,974.28 for S&P, 1,176.137 for Russell, 17,669.358 for Dow, 70% of initial levels
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| Pricing date: | July 24
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| Settlement date: | July 27
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| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as a distributor
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| Fees: | 0.25%
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| Cusip: | 17324CYJ9
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