Published on 11/22/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.31 million autocallable equity-linked notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – Citigroup Global Markets Holdings Inc. priced $1.31 million of autocallable equity-linked securities due May 22, 2019 tied to the least performing of the S&P 500 index, the Euro Stoxx 50 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 10.65% per year, payable monthly.
The notes will be automatically redeemed at par plus interest if the worst-performing asset closes at or above its initial level on any monthly observation date beginning in May 2018.
If the notes are not called and the final level of each asset is at least as great as its initial level or no asset has finished below 65% of its initial level any day during the life of the notes, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss of the worst-performing asset.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying assets: | S&P 500 index, Euro Stoxx 50 index, Russell 2000 index and VanEck Vectors Gold Miners ETF
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| Amount: | $1,314,000
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| Maturity: | May 22, 2019
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| Coupon: | 10.65%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if each asset’s final level equal to its initial level or no asset has closed below 65% of initial level during life of notes; otherwise, full exposure to loss of worst-performing asset
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| Call: | At par plus interest if the worst-performing asset closes at or above initial level on any monthly observation date beginning in May 2018
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| Initial levels: | 2,578.85 for S&P, 3,547.46 for Stoxx, 1,492.822 for Russell, $22.79 for ETF
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| Downside thresholds: | 1,676.253 for S&P, 2,305.849 for Stoxx, 970.334 for Russell, $14.814 for ETF, 65% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.7%
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| Cusip: | 17324CPA8
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