Published on 5/24/2017 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.74 million callable contingent coupon notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, May 24 – Citigroup Global Markets Holdings Inc. priced $1.74 million of callable contingent coupon equity linked securities due May 27, 2020 linked to the worst performing of the Euro Stoxx 50 index, and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 7.15% if each asset closes at or above its 70% barrier on the observation date for that period.
The notes are callable at par on any contingent coupon payment date.
The payout at maturity will be par plus the contingent coupon unless either asset finishes below its barrier, in which case investors will be fully exposed to the decline of the worse performing asset.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Holdings Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity linked securities
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| Underlying assets: | Euro Stoxx 50 index, iShares MSCI Emerging Markets exchange-traded fund
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| Amount: | $1,741,000
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| Maturity: | May 27, 2020
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| Coupon: | 7.15% per year, payable semiannually if each asset closes at or above 70% barrier on determination date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below barrier, in which case full exposure to losses of worse performing asset
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 3,587.01 for Stoxx, $41.15 for ETF
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| Barriers: | 2,510.907 for Stoxx, $28.805 for ETF, 70% of initial levels
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| Pricing date: | May 19
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| Settlement date: | May 26
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| Underwriter: | Citigroup Global Markets Holdings Inc.
|
| Fees: | 1.85%
|
| Cusip: | 17324CJD9
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