Published on 4/24/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $650,000 market-linked autocalls on Dynamic Asset Selector
By Sarah Lizee
Olympia, Wash., April 24 – Citigroup Global Markets Holdings Inc. priced $650,000 of 0% autocallable market-linked notes due Oct. 29, 2026 linked to the Citi Dynamic Asset Selector 5 Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annual premium of 8.5% if, on an annual valuation date, the closing level of the index is greater than or equal to the applicable premium threshold level. The premium threshold level will start at 101.75% of the initial level on April 27, 2020, stepping up 175 basis points each year to 112.25% of the initial level on April 27, 2026.
If the index return is positive, the payout at maturity will be par plus the index gain. Otherwise, the payout will be par.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable market-linked notes
|
| Underlying index: | Citi Dynamic Asset Selector 5 Excess Return index
|
| Amount: | $650,000
|
| Maturity: | Oct. 29, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index return is positive, par plus the index gain; otherwise, par
|
| Call: | Automatically at par plus an annual premium of 8.5% if, on an annual valuation date, the closing level of the index is greater than or equal to the applicable premium threshold level; premium threshold level will start at 101.75% of the initial level on April 27, 2020, stepping up 175 bps each year to 112.25% of the initial level on April 27, 2026
|
| Initial level: | 221.69
|
| Pricing date: | April 22
|
| Settlement date: | April 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17326YF76
|
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