Published on 8/10/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.53 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 10 – Citigroup Global Markets Holdings Inc. priced $3.53 million of 0% autocallable securities due Aug. 5, 2020 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
On Aug. 6, 2018 or July 31, 2019, Citigroup may call the notes at par of $1,000 plus a call premium of 12% per year if the closing level of each index is greater than or equal to 95% of its initial level.
If each index finishes at or above its premium threshold level, 90% of its initial index level, the payout at maturity will be $1,360 per $1,000 of notes.
Investors will receive par if the final level is less than the initial level but each index finishes at or above 75% of its initial level.
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, Euro Stoxx 50
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| Amount: | $3,525,000
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| Maturity: | Aug. 5, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above trigger level; otherwise, investors will be fully exposed to any decline of the least performing index
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| Call: | Automatically at par plus annualized premium of 12% if each index closes at or above 95% of its initial level on Aug. 6, 2018 or July 31, 2019 or above 90% of initial level on July 31, 2020
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| Initial levels: | 1,425.14 for Russell, 2,470.30 for S&P and 3,449.36 for Stoxx
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| Triggers: | 1,068.858 for Russell, 1,852.725 for S&P, and 2,587.020 for Stoxx; 75% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324CLF1
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