Published on 9/21/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.34 million step down trigger autocallables tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Citigroup Global Markets Holdings Inc. priced $3.34 million of 0% step down trigger autocallable notes due Sept. 18, 2020 linked to the lesser performing of 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 called at par of $10 plus an annual call premium of 9.05% if each index closes at or above its initial level on the first two valuation dates or at or above the 75% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return of the worst performing index with full exposure to any losses.
The notes will be guaranteed by Citigroup Inc.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $3,338,000
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| Maturity: | Sept. 18, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 9.05% per year if each index closes at or above its initial level on Sept. 21, 2018 or Sept. 18, 2019 or at or above downside threshold on the final valuation date
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| Payout at maturity: | 1% for each 1% decline of worst performing index
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| Initial index levels: | 2,500.23 for S&P, 1,431.712 for Russell and 3,515.55 for Stoxx
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| Downside thresholds: | 1,875.173 for S&P, 1,073.784 for Russell and 2,636.663 for Stoxx; 75% of initial levels
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 17325K602
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