Published on 10/18/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $10.47 million autocallable jump notes linked to Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Oct. 18 – Citigroup Global Markets Holdings Inc. priced $10.47 million of 0% jump securities with autocallable feature due Oct. 21, 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Oct. 23, 2020, the notes will be automatically called at par of $10 plus a call premium of 11.25% per year if the index closes at or above its initial level on any quarterly determination date other than the final determination date.
If the notes are not called and the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 56.25%. If the final index level is less than the initial index level but greater than or equal to the trigger level, 85% of the initial index level, the payout will be par. If the final index level is less than the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Jump securities with autocallable feature
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $10,465,070
|
| Maturity: | Oct. 21, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus 56.25%; if final index level is less than initial index level but greater than or equal to trigger level, par; if final index level is less than trigger level, 1% loss for every 1% that index declines from initial level
|
| Call: | Beginning Oct. 23, 2020, automatically at par plus call premium of 11.25% per year if index closes at or above initial level on any quarterly determination date other than final determination date (Oct. 16, 2024)
|
| Initial level: | 3,599.25
|
| Trigger level: | 3,059.363, or 85% of initial level
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
|
| Underwriter: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 17327P732
|
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