Published on 4/17/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable equity-linked notes tied to three stocks
By Wendy Van Sickle
Columbus, Ohio, April 17 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable equity-linked securities due April 12, 2018 tied to lululemon athletica inc., Amazon.com, Inc. and Under Armour, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 11.15% per year, payable monthly.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any monthly observation date beginning in July 2017.
If the notes are not called and the final price each stock is at least 70% of its initial price, the payout at maturity will be par. Otherwise, the payout will be the final share price of the worst-performing stock multiplied by its equity ratio.
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: | lululemon athletica inc, Amazon.com, Inc. and Under Armour. Inc.
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| Amount: | $500,000
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| Maturity: | April 12, 2018
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| Coupon: | 11.15%, payable monthly
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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, final share price of the worst-performing stock multiplied by its equity ratio
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| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any monthly observation date beginning in July 2017
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| Initial prices: | $50.63 for lululemon, $894.88 for Amazon, $19.86 for Under Armour
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| Downside thresholds: | $35.441 for lululemon, $626.416 for Amazon, $13.902 for Under Armour, 70% of initial prices
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| Equity ratios: | 19.75114 for lululemon, 1.11747 for Amazon, 50.35247 for Under Armour
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| Pricing date: | April 7
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| Settlement date: | April 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.875%
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| Cusip: | 17324XBS8
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