Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $475,000 contingent coupon autocallables on S&P, Stoxx
By Sarah Lizee
Olympia, Wash., April 2 – Citigroup Global Markets Holdings Inc. priced $475,000 of autocallable contingent coupon equity linked securities due April 2, 2024 linked to the worst 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 are guaranteed by Citigroup Global Markets Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7% if each underlying asset closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are called at par if each asset closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par unless either underlying asset finishes below its 75% knock-out level, in which case investors will be fully exposed to any losses of the worst performing asset.
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 assets: | Euro Stoxx 50 index and S&P 500 index
|
| Amount: | $475,000
|
| Maturity: | April 2, 2024
|
| Coupon: | 7% annualized, payable each quarter that each asset closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-out level, in which case 1% loss for each 1% decline of worse performing asset
|
| Call: | At par if each asset closes at or above its initial level on any determination date after six months
|
| Initial levels: | 2,815.44 for S&P and 3,320.29 for Stoxx
|
| Coupon barriers: | 2,111.580 for S&P, 2,490.218 for Stoxx, 75% of initial levels
|
| Knock-in levels: | 2,111.580 for S&P, 2,490.218 for Stoxx, 75% of initial levels
|
| Pricing date: | March 28
|
| Settlement date: | April 2
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17326YPY6
|
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