Published on 12/1/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.33 million contingent coupon autocallables on three stocks
By Wendy Van Sickle
Columbus, Ohio, Dec 1 – Citigroup Global Markets Holdings Inc. priced $1.33 million of autocallable contingent coupon equity-linked securities due Dec. 2, 2020 linked to the least performing of the common stocks of H&R Block, Inc., Netflix, Inc. and Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above its coupon barrier, 50% of its initial price, on a monthly observation date, the notes will pay a contingent coupon for that month at an annual rate of 11.75%.
The notes will be called at par if each stock closes at or above its initial price on any quarterly call observation date.
The payout at maturity will be par unless any stock finishes below its 50% final barrier level, in which case investors will receive shares of the worst performing stock with full exposed to its decline.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| 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: | H&R Block, Inc., Netflix, Inc. and Morgan Stanley
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| Amount: | $1,327,000
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| Maturity: | Dec. 2, 2020
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| Coupon: | 11.75% per year, payable each month that each stock closes at or above its coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below final barrier, in which case shares of the worst performing stock with full exposure to the decline of its performance
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| Call: | Automatically if each stock closes at or above its initial price on any quarterly call observation date
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| Initial prices: | $25.49 for H&R Block, $195.05 for Netflix, $49.00 for Morgan Stanley
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| Coupon barriers: | $12.745 for H&R Block, $97.525 for Netflix, $24.50 for Morgan Stanley; 50% of initial prices
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| Final barriers: | $12.745 for H&R Block, $97.525 for Netflix, $24.50 for Morgan Stanley; 50% of initial prices
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.85%
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| Cusip: | 17324CP42
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