Published on 2/28/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $900,000 contingent coupon autocalls on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – Citigroup Global Markets Holdings Inc. priced $900,000 of autocallable contingent coupon equity linked securities due March 1, 2029 linked to the worst performing of 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 8.2% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are called at par if each asset closes at or above 110% of its initial level on any determination date after one year.
The payout at maturity will be par unless either underlying asset finishes below its 60% downside threshold, 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 Global Markets Inc.
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Issue: | Autocallable contingent coupon equity linked securities
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Underlying assets: | Russell 2000 index and Euro Stoxx 50 index
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Amount: | $900,000
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Maturity: | March 1, 2029
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Coupon: | 8.2% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | If each asset never closes below downside threshold level, par; otherwise, 1% loss for each 1% decline of worse performing asset
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Call: | At par if each asset closes at or above 110% of its initial level on any determination date after one year
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Initial levels: | 3,289.32 for Stoxx, 1,577.483 for Russell
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Coupon barriers: | 2,466.99 for Stoxx, 1,183.112 for Russell, 70% of initial levels
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Downside threshold: | 1,973.592 for Stoxx, 946.49 for Russell, 60% of initial levels
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Pricing date: | Feb. 26
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Settlement date: | Feb. 28
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.6%
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Cusip: | 17326YNE2
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