Published on 12/6/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $440,000 contingent coupon autocalls on S&P, Stoxx
By Sarah Lizee
Olympia, Wash., Dec. 6 – Citigroup Global Markets Holdings Inc. priced $440,000 of autocallable contingent coupon equity-linked securities due Dec. 1, 2023 linked to the least performing of the Euro Stoxx 50 index and the S&P 500 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% if each index closes at or above its 75% coupon barrier on the valuation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either index finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | S&P 500, Euro Stoxx 50
|
| Amount: | $440,000
|
| Maturity: | Dec. 1, 2023
|
| Coupon: | 7% annualized, payable quarterly if each index closes at or above 75% coupon barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index closes above 75% trigger, par; otherwise, 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date beginning in May 2019
|
| Initial levels: | 2,743.79 for S&P, 3,168.29 for Stoxx
|
| Coupon barriers: | 2,057.843 for S&P, 2,376.218 for Stoxx, 75% of initial levels
|
| Trigger levels: | 2,057.843 for S&P, 2,376.218 for Stoxx, 75% of initial levels
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17326YA71
|
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