Published on 3/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.14 million contingent coupon autocalls on three stocks
By Sarah Lizee
Olympia, Wash., March 26 – Citigroup Global Markets Holdings Inc. priced $1.14 million of autocallable contingent coupon equity linked securities due March 27, 2023 linked to the worst performing of the shares of PayPal Holdings, Inc., Square, Inc. and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 18.5% if each stock closes at or above its 60% coupon barrier on the observation date for that period.
The notes are called at par if each stock closes at or above its initial level on any quarterly determination date beginning in December 2019.
The payout at maturity will be par unless any stock finishes below its 50% barrier level, in which case investors will be fully exposed to the decline of the worst performing stock from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying stocks: | PayPal Holdings, Inc., Square, Inc. and Micron Technology, Inc.
|
| Amount: | $1,138,000
|
| Maturity: | March 27, 2023
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| Coupon: | 18.5% annualized, payable each month that each stock closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its final barrier value, in which case investors will be fully exposed to the decline of the worst performing stock from its initial level
|
| Call: | At par if each stock closes at or above its initial price on any quarterly determination date beginning in December 2019
|
| Initial prices: | $101.27 for PayPal, $75.09 for Square, $41.62 for Micron
|
| Coupon barriers: | $60.762 for PayPal, $45.054 for Square, $24.972 for Micron; 60% of initial prices
|
| Final barrier values: | $50.635 for PayPal, $37.545 for Square, $20.810 for Micron; 50% of initial prices
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17326YWY8
|
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