Published on 5/1/2017 in the Prospect News Structured Products Daily.
New Issue: Citi prices $926,000 callable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 1 – Citigroup Global Markets Holdings Inc. priced $926,000 of callable contingent coupon equity linked securities due April 26, 2027 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 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 9.15% if each index closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are callable at par on any contingent coupon payment date after two years.
The payout at maturity will be par plus the contingent coupon unless any index finishes below it 50% trigger, in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Holdings Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity linked securities
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| Underlying indexes: | Euro Stoxx 50, Russell 2000, S&P 500
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| Amount: | $926,000
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| Maturity: | April 26, 2027
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| Coupon: | 9.15% per year, payable quarterly if each index closes at or above 75% coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index falls by more than 50%, in which case full exposure to losses of worst performing index
|
| Call option: | At par on any interest payment date beginning in April 2019
|
| Initial levels: | 3,440.27 for Stoxx, 1,379.854 for Russell and 2,348.69 for S&P
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| Coupon barriers: | 2,580.203 for Stoxx, 1,034.891 for Russell and 1,761.518 for S&P; 75% of initial levels
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| Trigger levels: | 1,720.135 for Stoxx, 689.927 for Russell and 1,174.345 for S&P; 50% of initial levels
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Underwriter: | Citigroup Global Markets Holdings Inc.
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| Fees: | 4%
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| Cusip: | 17324CHE9
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