Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: Citi sells $950,000 five-year barrier securities linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 6 – Citigroup Global Markets Holdings Inc. priced $950,000 of 0% barrier securities due June 2, 2023 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 400% of the gain of the worse performing asset up to a maximum return of 60%.
If either asset falls by up to 40%, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the lesser performing asset.
The notes are 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: | Barrier securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $950,000
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Maturity: | June 2, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 400% of return of worse performing asset capped at 60%; if either asset falls by up to 40%, par; otherwise, 1% loss per 1% drop of lesser performing asset
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Initial levels: | 2,689.86 for S&P, 1,623.649 for Russell
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Barrier levels: | 1,613.916 for S&P, 974.189 for Russell, 60% of initial levels
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Pricing date: | May 29
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Settlement date: | May 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.125%
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Cusip: | 17324CUQ7
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