Published on 6/7/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.1 million callable contingent coupon notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, June 7 – Citigroup Global Markets Holdings Inc. priced $1.1 million of callable contingent coupon notes due June 2, 2028 linked to the lesser performing of the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 8.6% if each underlying asset closes at or above its coupon barrier level, 75% of its initial price, on the observation date for that period.
The notes will be callable in whole at par on any observation date.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
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: | Callable contingent coupon notes
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Underlying assets: | Russell 2000 index, iShares MSCI Emerging Markets ETF
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Amount: | $1.1 million
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Maturity: | June 2, 2028
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Contingent coupon: | 8.6% per year, payable quarterly if each underlying asset closes at or above coupon barrier level observation date for that period
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Price: | Par
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Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
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Call option: | Callable at par on any observation date
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Initial values: | 1,623.649 for Russell, $45.35 for ETF
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Coupon barriers: | 1,217.737 for Russell, $34.013 for ETF, 75% of initial levels
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Barriers: | 974.189 for Russell, $27.210 for ETF, 60% of initial levels
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Pricing date: | May 29
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Settlement date: | May 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.375%
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Cusip: | 17324CVQ6
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