Published on 3/6/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $427,000 8.5% contingent coupon autocalls on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, March 6 – Citigroup Global Markets Holdings Inc. priced $427,000 of autocallable contingent coupon equity linked securities due Aug. 28, 2019 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each index closes at or above its 70% coupon barrier on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any valuation date after six months
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 70% barrier level, in which case investors will be fully exposed any losses of the worse performing index.
The notes will be 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 interest notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $427,000
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| Maturity: | Aug. 28, 2019
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| Coupon: | 8.5% annualized, payable quarterly if each index closes at or above coupon barrier on valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below barrier, in which case 1% loss for each 1% decline of worse performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any valuation date after six months
|
| Initial levels: | 3,441.46 for Stoxx, 1,549.186 for Russell
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| Coupon barrier/barriers: | 2,409.022 for Stoxx, 1,084.4302 for Russell, 70% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.875%
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| Cusip: | 17324CRK4
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