Published on 4/2/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.02 million autocallables on S&P 500, Euro Stoxx 50
By Devika Patel
Knoxville, Tenn., April 2 – Citigroup Global Markets Holdings Inc. sold $2.02 million of autocallable securities due March 7, 2023 linked to the worst performing of the S&P 500 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 be called at par plus the call premium if each index closes at or above its trigger level, 60% of its initial level, on any of the first 19 quarterly determination dates beginning on Aug. 28, 2018. The call premium will be 5.175% for the first call date, stepping up by 2.5875% for each subsequent call date.
The payout at maturity will be par plus the final call premium of 51.75%, unless either index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $2,024,000
|
| Maturity: | March 7, 2023
|
| Price: | Par
|
| Payout at maturity: | Par plus 51.75% if each index finishes at or above trigger level of 60% of initial level; otherwise, 1% loss for each 1% decline of worse performing index from initial level.
|
| Call: | At par plus call premium if each index closes at or above trigger level of 60% of initial level on any of the first 19 quarterly determination dates beginning on Aug. 28, 2018
|
| Call premiums: | 5.175% for the first call date, stepping up by 2.5875% for each subsequent call date
|
| Initial levels: | 2,779.60 for S&P and 3,463.18 for Euro Stoxx
|
| Trigger levels: | 1,667.76 for S&P and 2,077.908 for Euro Stoxx, 60% of initial levels
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17324CRQ1
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
