Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $559,000 contingent coupon autocallables on three stocks
By Wendy Van Sickle
Columbus, Ohio, July 26 – Citigroup Global Markets Holdings Inc. priced $559,000 of autocallable contingent coupon equity-linked securities due Jan. 22, 2021 tied to the common stocks of Caterpillar Inc., Goldman Sachs Group, Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 14.5% if each stock closes at or above its 70% coupon barrier price on the review date for that month.
The notes will be automatically redeemed at par plus interest if each stock closes at or above its initial price on any quarterly redemption date.
If the notes are not called and the final price of each stock is at least 70% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing stock.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Caterpillar Inc., Goldman Sachs Group, Inc. and Amazon.com, Inc.
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| Amount: | $559,000
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| Maturity: | Jan. 22, 2021
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| Coupon: | 14.5% annualized, payable monthly if each stock closes at or above coupon barrier price on review date for that month
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 70% of initial price; otherwise, full exposure to decline of least-performing stock
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| Call: | At par plus interest if each stock closes at or above initial price on any quarterly redemption date
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| Initial prices: | $138.08 for Caterpillar, $231.44 for Goldman, $1,822.49 for Amazon
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| Coupon barriers/final barriers: | $96.656 for Caterpillar, $162.008 for Goldman, $1,275.743 for Amazon; 70% of initial prices
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| Pricing date: | July 16
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| Settlement date: | July 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17324XEV8
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