Published on 12/27/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $459,000 autocallable contingent coupon securities linked to stocks
Chicago, Dec. 27 – Citigroup Global Markets Holdings Inc. priced $459,000 of autocallable contingent coupon equity-linked securities due Dec. 2, 2021 linked to the worst performing of the common stocks of Microsoft Corp., Home Depot, Inc. and Accenture plc, 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 9% if all three stocks close at or above the coupon barrier level, 62.5% of the initial level, on the valuation date for that month.
The notes will be called at par plus the contingent coupon if all stocks close at or above the initial share price on any quarterly valuation date beginning May 2019 and ending August 2021.
The payout at maturity will be par plus the contingent coupon, if any, unless any stock finishes below the 62.5% barrier level, in which case investors will be fully exposed to the losses of the worst performing underlying.
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: | Microsoft Corp., Home Depot, Inc. and Accenture plc
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| Amount: | $459,000
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| Maturity: | Dec. 2, 2021
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| Coupon: | 9% per year, payable monthly if all stocks close at or above barrier level on valuation date
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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 barrier level, par plus final coupon, if any; otherwise, exposure to the losses of the worst performing stock
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| Call: | At par plus contingent coupon if all stocks close at or above initial share price on any quarterly valuation date starting May 2019
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| Initial share prices: | $107.14 for Microsoft Corp., $173.22 for Home Depot, Inc. and $159.11 for Accenture plc
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| Coupon barrier levels: | $66.963 for Microsoft Corp., $108.263 for Home Depot, Inc. and $99.444 for Accenture plc
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| Barrier levels: | $66.963 for Microsoft Corp., $108.263 for Home Depot, Inc. and $99.444 for Accenture plc
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.85%
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| Cusip: | 17326YK39
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