Published on 2/20/2018 in the Prospect News Structured Products Daily.
New Issue: Citi sells $6.04 million trigger autocallables on Stoxx Banks, Stoxx 50
By Marisa Wong
Morgantown, W.Va., Feb. 20 – Citigroup Global Markets Holdings Inc. priced $6.04 million of trigger autocallable contingent yield notes due Feb. 12, 2021 linked to the Euro Stoxx Banks index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 9.1% if each index closes at or above its coupon barrier level, 65% of its initial level, on the related quarterly observation date.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the 65% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx Banks and Euro Stoxx 50
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| Amount: | $6,043,100
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| Maturity: | Feb. 12, 2021
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| Coupon: | 9.1%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par plus final coupon unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index from initial level
|
| Initial levels: | 132.08 for Stoxx Banks, 3,325.99 for Stoxx 50
|
| Coupon barriers: | 85.852 for Stoxx Banks, 2,161.894 for Stoxx 50; 65% of initial levels
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| Downside thresholds: | 85.852 for Stoxx Banks, 2,161.894 for Stoxx 50; 65% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 2%
|
| Cusip: | 17326E258
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