Published on 7/11/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.98 million step down trigger autocallables tied to Russell, Nasdaq-100
By Wendy Van Sickle
Columbus, Ohio, July 11 – Citigroup Global Markets Holdings Inc. priced $3.98 million of 0% step down trigger autocallable notes due June 30, 2022 linked to the lesser performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par of $10 plus an 8% call premium if each index closes at or above its initial level on July 3, 2018, June 28, 2019, June 29, 2020 or June 28, 2021 or both indexes finish above the downside threshold, 70% of the indexes’ respective levels, on June 24, 2022.
If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 70% of its initial level, and investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Russell 2000 index and Nasdaq-100 index
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| Amount: | $3,979,400
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| Maturity: | June 30, 2022
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | Full exposure to decline of least-performing index from initial level
|
| Call: | At par plus 8% per year if each index closes at or above its call threshold level on any annual observation date
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| Initial index levels: | 1,425.269 for Russell 2000 and 5,753.032 for Nasdaq-100
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| Downside thresholds: | 997.688 for Russell 2000 and 4,027.122 for Nasdaq-100; 70% of initial levels
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| Call threshold levels: | Equal to initial index levels for July 3, 2018, June 28, 2019, June 29, 2020 or June 28, 2021 and equal to downside thresholds for June 24, 2022
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 0.25%
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| Cusip: | 17325K651
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