Published on 8/27/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.77 million contingent coupon autocalls on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – Citigroup Global Markets Holdings Inc. priced $2.77 million of autocallable contingent coupon equity linked securities due Aug. 25, 2022 linked to the worst performing of the Russell 2000 index, the Euro Stoxx 50 index, the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.15% if each underlying asset closes at or above its 60% coupon barrier on the observation date.
The notes will be called at par if each asset closes at or above its initial level on any determination date after one year.
The payout at maturity will be par unless any underlying finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worst performing asset.
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 Global Markets Inc.
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Issue: | Autocallable contingent coupon equity linked securities
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Underlying assets: | Russell 2000, Euro Stoxx 50 index, SPDR S&P Oil & Gas Exploration & Production
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Amount: | $2.77 million
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Maturity: | Aug. 25, 2022
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Coupon: | 8.15% annualized, payable quarterly if each asset closes at or above 60% coupon barrier on observation date
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Price: | Par
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Payout at maturity: | If each finishes above barrier level, par; otherwise, 1% loss for each 1% decline of worst performing asset
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Call: | At par if each asset closes at or above its initial level on any determination date beginning in August 2019
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Initial levels: | 1,722.542 for Russell, 3,420.18 for Stoxx, $41.70 for ETF
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Coupon barriers: | 1,033.525 for Russell, 2,052.108 for Stoxx, $25.02 for ETF, 60% of initial levels
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Barriers: | 1,033.525 for Russell, 2,052.108 for Stoxx, $25.02 for ETF, 60% of initial levels
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Pricing date: | Aug. 22
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Settlement date: | Aug. 27
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.6%
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Cusip: | 17324CZ82
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