Published on 2/9/2018 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.83 million 12% contingent coupon autocalls tied to four stocks
By Susanna Moon
Chicago, Feb. 9 – Citigroup Global Markets Holdings Inc. priced $1.83 million of autocallable contingent coupon equity-linked securities due Jan. 29, 2021 tied to the least performing of the common stocks of Gilead Sciences, Inc., Nvidia Corp., Netflix, Inc. and Applied Materials, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if each stock closes at or above its 50% threshold on the observation date for that month.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date six months.
The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case the payout will be par plus the return of the worst performing stock with full exposure to any losses.
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: | Gilead Sciences, Inc. (Symbol: GILD), Nvidia Corp. (Symbol: NVDA), Netflix, Inc. (Symbol: NFLX) and Applied Materials, Inc. (Symbol: AMAT)
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| Amount: | $1,832,000
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| Maturity: | Jan. 29, 2021
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| Coupon: | 12% annualized, payable monthly if each stock closes at or above its 50% 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 barrier, in which case full par plus return of worst performing stock
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| Call: | At par if each stock closes at or above its initial price on any quarterly call observation date
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| Initial prices: | $85.46 for Gilead, $243.33 for Nvidia, $274.60 for Netflix and $57.12 for Applied
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| Trigger levels: | $42.73 for Gilead, $121.665 for Nvidia, $137.30 for Netflix and $28.56 for Applied; 50% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.4%
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| Cusip: | 17324CQN9
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