Published on 7/16/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $718,000 autocallable equity-linked notes tied to tech stocks
By Wendy Van Sickle
Columbus, Ohio, July 16 – Citigroup Global Markets Holdings Inc. priced $718,000 of autocallable equity-linked securities due July 2, 2019 tied to the common stocks of Amazon.com, Inc., Apple Inc. and Nvidia Corp. and the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 11.36% 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 September 2018.
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: | Amazon.com, Inc., Apple Inc., Nvidia Corp. and Facebook, Inc.
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| Amount: | $718,000
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| Maturity: | July 2, 2019
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| Coupon: | 11.36%, 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 September 2018
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| Initial prices: | $1,660.51 for Amazon, $195.84 for Facebook, $184.16 for Apple, $235.72 for Nvidia
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| Downside thresholds: | $1,162.357 for Amazon, $137.088 for Facebook, $128.912 for Apple, $165.004 for Nvidia; 70% of initial prices
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| Equity ratios: | 0.60222 for Amazon, 5.10621 for Facebook, 5.43006 for Apple, 4.24232 for Nvidia
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| Pricing date: | June 27
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| Settlement date: | June 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.875%
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| Cusip: | 17324XEL0
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