Published on 7/2/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $566,000 contingent coupon autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, July 2 – Citigroup Global Markets Holdings Inc. priced $566,000 of autocallable contingent coupon equity linked securities due June 23, 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 pay a contingent quarterly coupon at an annual rate of 7.5% if each underlying index closes at or above its 75% coupon barrier on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly valuation date after one year.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 75% final barrier level, in which case investors will be fully exposed any losses of the least performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Euro Stoxx 50 index
|
| Amount: | $566,000
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| Maturity: | June 23, 2021
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| Coupon: | 7.5% annualized, payable quarterly if each underlying index closes at or above coupon barrier on valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below barrier, in which case full exposure to losses of the least performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any valuation date after one year
|
| Initial levels: | 2,749.76 for S&P 500, 3,403.51 for Stoxx
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| Coupon barriers/final barriers: | 2,062.32 for S&P, 2,552.633 for Stoxx; 75% of initial levels
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| Pricing date: | June 21
|
| Settlement date: | June 26
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17324CV86
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