Published on 11/21/2016 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2 million upturn securities linked to five financial stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% upturn securities due May 22, 2018 linked to an equally weighted basket composed of the common stocks of Capital One Financial Corp., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Morgan Stanley and SVB Financial Group, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 300% of the basket return, subject to a maximum return of 26%. If the final basket level is less than the initial basket level, investors will be exposed to the decline.
The initial share price of each stock is its closing share price on Nov. 10, the strike date.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Upturn securities
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| Underlying stocks: | Capital One Financial Corp., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Morgan Stanley and SVB Financial Group; equally weighted
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| Amount: | $2 million
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| Maturity: | May 22, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket gains, par plus 300% of the return, capped at 26%; full exposure to losses
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| Initial prices: | $200.87 for Goldman, $76.65 for JPMorgan, $38.02 for Morgan Stanley, $139.90 for SVB Financial and $79.23 for Capital One; closing prices on Nov. 10 strike date
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17324CCS3
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