Published on 1/23/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.78 million step down trigger autocallables on S&P, Russell, Stoxx
By Tali Rackner
Minneapolis, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $2.78 million of 0% step down trigger autocallable notes due Jan. 22, 2021 linked to the least 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 are guaranteed by Citigroup Inc.
The notes will be automatically called at par of $10 plus a 10% call premium if each index closes at or above its initial level on either of the first two annual valuation dates.
If the notes are not called, then the final level of at least one index will be less than its downside threshold, 75% of its initial level, and investors will lose 1% for each 1% decline of the least-performing index from its initial level.
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: | $2,775,000
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| Maturity: | Jan. 22, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to decline of least-performing index from initial level
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| Call: | At par plus 10% per year if each index closes at or above its initial level on either of the first two annual valuation dates
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| Initial index levels: | 2,786.24 for S&P 500, 1,591.972 for Russell and 3,612.61 for Euro Stoxx 50
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| Downside thresholds: | 2,089.68 for S&P 500, 1,193.979 for Russell and 2,709.46 for Euro Stoxx 50; 75% of initial levels
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 17
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| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 17326E712
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