Published on 10/11/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $5.82 million trigger autocallables linked to index basket
By Angela McDaniels
Tacoma, Wash., Oct. 11 – Citigroup Global Markets Holdings Inc. priced $5.82 million of 0% trigger autocallable notes due Oct. 15, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
Beginning one year after issuance, the notes will be automatically called at par of $10 plus 9.65% per year if the basket closes at or above its initial level on any quarterly valuation date.
If the notes are not called and the final basket level is greater than or equal to the downside threshold, 70% of the initial basket level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final basket level is below the initial basket level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter, and UBS Financial Services Inc. is acting as agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Trigger autocallable notes
|
| Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
|
| Amount: | $5,822,700
|
| Maturity: | Oct. 15, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than or equal to downside threshold, 70% of initial basket level, par; otherwise, 1% loss for every 1% that final basket level is less than initial basket level
|
| Call: | Beginning one year after issuance, notes will be automatically called at par plus 9.65% per year if basket closes at or above initial level on any quarterly valuation date
|
| Initial levels: | 3,462.11 for Euro Stoxx 50, 21,456.38 for Nikkei 225, 7,166.50 for FTSE 100, 6,546.724 for S&P/ASX 200, 9,830.05 for Swiss Market and 25,682.81 for Hang Seng
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| Pricing date: | Oct. 9
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| Settlement date: | Oct. 15
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| Underwriter: | Citigroup Global Markets Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17327P682
|
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