Published on 4/24/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $788,000 7.1% contingent coupon callables tied to three indexes
By Susanna Moon
Chicago, April 24 – Citigroup Global Markets Holdings Inc. priced $788,000 of callable contingent coupon equity-linked securities due April 22, 2022 linked to the worst 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 pay a contingent quarterly coupon at an annual rate of 7.1% if each index closes at or above its 65% coupon barrier on the review date for that quarter.
The notes are callable at par on any review date after one year.
The payout at maturity will be par unless any index finishes below its 55% barrier 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 Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $788,000
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| Maturity: | April 22, 2022
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| Coupon: | 7.1% annualized, payable quarterly if each index closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below 55% barrier, in which case 1% loss for each 1% decline of worst performing index
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| Call option: | At par on any quarterly review date beginning in April 2019
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| Initial levels: | 2,706.39 for S&P, 1,579.802 for Russell and 3,477.91 for Stoxx
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| Coupon barriers: | 1,759.154 for S&P, 1,026.871 for Russell and 2,260.642 for Stoxx, 65% of initial levels
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| Trigger levels: | 1,488.515 for S&P, 868.891 for Russell and 1,912.851 for Stoxx, 55% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17324CUB0
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