Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $10 million autocallable securities on Home Depot, Morgan Stanley, Walmart
By Wendy Van Sickle
Columbus, Ohio, July 26 – Citigroup Global Markets Holdings Inc. priced $10 million of 0% autocallable equity-linked securities due Aug. 5, 2020 linked to the common stocks of Home Depot, Inc., Morgan Stanley and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus 14% if all stocks close at or above the initial share price on July 25, 2019.
The payout at maturity will be par plus 28% unless any stock finishes below the 70% trigger level, in which case investors will be fully exposed to the loss of the worst 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 equity-linked securities
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Underlying stocks: | Home Depot, Inc., Morgan Stanley and Walmart Inc.
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Amount: | $10 million
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Maturity: | Aug. 5, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final price of each stock is greater than or equal to trigger level, par plus 28%; otherwise, full exposure to decline of worst performing stock
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Call: | At par plus 14% if all stocks close at or above the initial share price on July 25, 2019
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Initial share prices: | $198.69 for Home Depot, $48.08 for Morgan Stanley, $87.80 for Walmart
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Trigger levels: | $139.083 for Home Depot, $33.656 for Morgan Stanley, $61.39 for Walmart, 70% of initial share prices
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Pricing date: | July 16
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Settlement date: | July 19
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17324CY34
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