Published on 10/16/2017 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.22 million contingent coupon autocallables on Facebook, Apple, Netflix, Google
By Wendy Van Sickle
Columbus, Ohio, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $2.22 million of autocallable contingent coupon equity-linked securities due Oct. 11, 2018 linked to the lesser performing of the common stocks of Facebook, Inc., Apple Inc., Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 13.369% if each stock closes at or above its 70% coupon barrier on the valuation date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any monthly valuation date.
The payout at maturity will be par plus the contingent coupon unless any stock closes below its 70% barrier level, in which case the payout will be a number of shares of the worse performing stock equal to $1,000 divided by the initial share price, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Facebook, Inc., Apple Inc., Netflix, Inc. and Alphabet Inc.
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| Amount: | $2,223,000
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| Maturity: | Oct. 11, 2018
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| Coupon: | 13.369% per year, payable monthly if each stock closes at or above coupon barrier on valuation date for that month
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier price, par plus contingent coupon; otherwise, 5.80619 shares of Facebook, 6.43915 shares of Apple, 5.04999 shares of Netflix or 1.00640 shares of Alphabet
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly valuation date
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| Initial share prices: | $172.23 for Facebook, $155.30 for Apple, $198.02 for Netflix and $993.64 for Alphabet
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| Barrier prices: | $120.561 for Facebook $108.710 for Apple, $138.614 for Netflix and $695.548 for Alphabet; 70% of initial share prices
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.875%
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| Cusip: | 17324XHN3
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