Published on 11/14/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $550,000 contingent absolute return notes on S&P 500
By Sarah Lizee
Olympia, Wash., Nov. 14 – Citigroup Global Markets Holdings Inc. priced $550,000 of 0% contingent absolute return market-linked notes due Nov. 12, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final index level is less than the 71% downside knock-out level or greater than the 129% upside knock-out level, the payout at maturity will be par.
If the final index level is less than or equal to the upside knock-out level but greater than or equal to the initial index level, the payout will be par plus the index return.
If the final index level is less than the initial index level but greater than or equal to the downside knock-out level, the payout will be par plus the absolute value of the index return.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent absolute return market-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $550,000
|
| Maturity: | Nov. 12, 2021
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If final index level is less than the downside knock-out level or greater than the upside knock-out level, par; if the final index level is less than or equal to the upside knock-out level but greater than or equal to the initial index level, par plus the index return; if the final index level is less than the initial index level but greater than or equal to the downside knock-out level, par plus the absolute value of the index return
|
| Initial level: | 2,781.01
|
| Upside knock-out level: | 3,587.503, 129% of initial level
|
| Downside knock-out level: | 1,974.517, 71% of initial level
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17326YS49
|
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