Published on 5/31/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.84 million trigger autocallable contingent yield note on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, May 31 – Citigroup Global Markets Holdings Inc. priced $5.84 million of 0% trigger autocallable contingent yield notes due May 28, 2027 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7.76% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the downside threshold level, 50% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing index.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $5,844,430
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| Maturity: | May 28, 2027
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| Coupon: | 7.76%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if each index closes at or above its initial level on any quarterly observation date
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| Payout at maturity: | Par plus final coupon unless either index finishes below downside threshold level, in which case 1% loss for every 1% decline of the worse performing index
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| Initial levels: | 1,383.388 for Russell, 3,584.55 for Stoxx
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| Coupon barriers: | 968.3716 for Russell, 2,509.185 for Stoxx; 70% of initial levels
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| Downside thresholds: | 691.694 for Russell, 1,792.275 for Stoxx; 50% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Underwriters: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17325K222
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