Published on 6/15/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.44 million 12% contingent coupon callables tied to Russell, Stoxx
By Susanna Moon
Chicago, June 12 – Citigroup Global Markets Holdings Inc. priced $2.44 million of callable contingent coupon equity-linked securities due June 16, 2022 linked to the worse performing of the Euro Stoxx 50 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if each index closes at or above its 80% coupon barrier on each day during that quarter.
The notes are callable at par on any interest payment date from September 2018 through March 2022.
The payout at maturity will be par unless either index finishes below its 80% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $2,438,000
|
| Maturity: | June 16, 2022
|
| Coupon: | 12% annualized, payable quarterly if each index closes at or above 70% coupon barrier on each trading day for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index closes above barrier, par; otherwise, 1% loss for each 1% decline of worse performing index
|
| Call option: | At par on any interest payment date from September 2018 through March 2022
|
| Initial levels: | 1,682.299 for Russell and 3,475.58 for Stoxx
|
| Barrier levels: | 1,345.839 for Russell and 2,780.464 for Stoxx, 80% of initial levels
|
| Pricing date: | June 12
|
| Settlement date: | June 15
|
| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as a distributor
|
| Fees: | 0.9%
|
| Cusip: | 17324CVV5
|
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