Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $6.78 million callable contingent coupon notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, July 26 – Citigroup Global Markets Holdings Inc. priced $6.78 million of callable contingent coupon notes due July 21, 2022 linked to the least performing of the S&P 500 index, Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 10.34% if each underlying asset closes at or above its coupon barrier level, 80% of its initial price, on every trading day that period.
The notes will be callable in whole at par on any observation date after six months.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Callable contingent coupon notes
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Underlying assets: | S&P 500 index, Russell 2000 index, iShares MSCI EAFE ETF
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Amount: | $6,775,000
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Maturity: | July 21, 2022
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Contingent coupon: | 10.34% per year, payable quarterly if each underlying asset closes at or above coupon barrier level every day that period
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Price: | Par
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Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
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Call option: | Callable at par on any observation date after six months
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Initial values: | 2,809.55 for S&P, 1,687.264 for Russell, $67.88 for ETF
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Coupon barriers: | 2,247.64 for S&P, 1,349.811 for Russell, $54.304 for ETF, 80% of initial levels
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Barriers: | 1,685.73 for S&P, 1,012.358 for Russell, $40.728 for ETF, 60% of initial levels
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Pricing date: | July 17
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Settlement date: | July 20
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.15%
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Cusip: | 17324CXJ0
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