Published on 9/6/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.8 million contingent coupon autocallables on four stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – Citigroup Global Markets Holdings Inc. priced $1.8 million of autocallable contingent coupon equity-linked securities due Sept. 2, 2021 tied to the stocks of Facebook, Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., 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 12% if each stock closes at or above its 60% coupon barrier price on the review date.
The notes will be automatically redeemed at par plus interest if each stock closes at or above its initial price on any quarterly redemption date.
If the notes are not called and the final price of each stock is at least 60% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing stock.
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 coupon equity-linked securities
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| Underlying stocks: | Facebook, Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc.
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| Amount: | $1,798,000
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| Maturity: | Sept. 2, 2021
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| Coupon: | 12% annualized, payable quarterly if each stock closes at or above coupon barrier price on review date
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 60% of initial price; otherwise, full exposure to decline of least-performing stock
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| Call: | At par plus interest if each stock closes at or above initial price on any quarterly redemption date
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| Initial prices: | $176.26 for Facebook, $1,932.82 for Amazon, $1,245.86 for Alphabet, $368.49 for Netflix
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| Coupon/final barriers: | $176.26 for Facebook, $1,932.82 for Amazon, $1,245.86 for Alphabet, $21.094 for Netflix; 60% of initial prices
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17324XKU3
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