Published on 3/26/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.48 million contingent coupon autocallables on indexes, ETFs
By Wendy Van Sickle
Columbus, Ohio, March 26 – Citigroup Global Markets Holdings Inc. priced $1.48 million of autocallable contingent coupon equity linked securities due June 25, 2020 linked to the worst performing of the S&P 500 index, the Russell 2000 index, the VanEck Vectors Gold Miners ETF and the iShares MSCI Emerging Markets ETF, 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 11.3% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that month.
The notes will be called at par if each asset closes at or above its initial level on any observation date after six months.
The payout at maturity will be par plus the contingent coupon, if any, unless any underlying asset finishes below its 65% barrier level, in which case investors will be fully exposed to any losses of the worst performing asset.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying assets: | S&P 500 index, Russell 2000 index, VanEck Vectors Gold Miners ETF and iShares MSCI Emerging Markets ETF
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| Amount: | $1,477,000
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| Maturity: | June 25, 2020
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| Coupon: | 11.3% annualized, payable each month that each asset closes at or above coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus final contingent coupon, if any, unless any index finishes below final barrier level, in which case 1% loss for each 1% decline of worst performing index
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| Call: | At par if each asset closes at or above its initial level on any observation date after six months
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| Initial levels: | 2,854.88 for S&P, 1,562.412 for Russell, $22.75 for Gold Miners, $43.71 for MSCI
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| Coupon/final barriers: | 1,855.672 for S&P, 1,015.566 for Russell, $28.412 for Gold Miners, $14.788 for MSCI; 65% of initial levels
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| Pricing date: | March 21
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| Settlement date: | March 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17326YSM9
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