Published on 5/25/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.68 million barrier securities on index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, May 25 – Citigroup Global Markets Holdings Inc. priced $6.68 million of 0% barrier securities due June 2, 2020 linked to a basket of the S&P 500 index, with a 40% weight, the iShares MSCI EAFE exchange-traded fund, with a 30% weight, the S&P MidCap 400 index with a 20% weight, and the Russell 2000 index with a 10% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final basket level is greater than or equal to the initial level, the payout at maturity will be par plus 150% of the basket return, up to a maximum return of 24%.
If the final basket level is less than the initial level but greater than or equal to the 75% barrier level, the payout will be par.
If the final basket level is less than the barrier level, investors will lose 1% for every 1% basket decline.
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: | Barrier securities
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Underlying basket: | S&P 500 index (40% weight), iShares MSCI EAFE exchange-traded fund (30% weight), S&P MidCap 400 index (20% weight) and Russell 2000 index (10% weight)
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Amount: | $6,684,000
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Maturity: | June 2, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final basket level is greater than or equal to the initial level, par plus 150% of the basket return, up to a maximum return of 24%; if the final basket level is less than the initial level but greater than or equal to the 75% barrier level, par; otherwise, investors will lose 1% for every 1% basket decline
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Initial levels: | 2,733.29 for S&P, $70.90 for ETF, 1,950.53 for MidCap 400, 1,627.609 for Russell
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Pricing date: | May 23
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Settlement date: | May 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17324CUD6
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