Published on 11/2/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.29 million contingent coupon autocalls tied to Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $1.29 million of autocallable contingent coupon equity-linked securities due Oct. 31, 2023 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 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 6% if each index closes at or above its 70% coupon barrier on the valuation date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly autocall review date after one year.
The payout at maturity will be par unless any index finishes below its 60% trigger 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 Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100, Russell 2000
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| Amount: | $1,292,000
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| Maturity: | Oct. 31, 2023
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| Coupon: | 6% annualized, payable monthly if each index closes at or above coupon barrier on valuation date for that month
|
| Price: | Par
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| Payout at maturity: | If each index closes above 60% trigger, par; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly autocall review date beginning in October 2019
|
| Initial levels: | 24,688.31 for Dow, 1,483.821 for Russell, 6,852.404 for Nasdaq
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| Coupon barriers: | 17,281.817 for Dow, 1,038.675 for Russell, 4,769.683for Nasdaq, 70% of initial levels
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| Trigger levels: | 14,812.986 for Dow, 890.293 for Russell, 4,111.442 for Nasdaq, 60% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17326Y2G0
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