Published on 11/15/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.11 million autocallable securities on Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 15 – Citigroup Global Markets Holdings Inc. priced $2.11 million of autocallable securities due Nov. 13, 2023 linked to the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annualized redemption premium of 11.5% if the closing level of each underlying index is at or above its initial level on any quarterly review date after one ear.
If either index declines but not below the 60% trigger level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $2,111,000
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| Maturity: | Nov. 13, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 57.5%; if either index falls by up to 40%, par; otherwise, 1% loss for each 1% decline of the lesser-performing index from its initial level
|
| Call: | Automatically at par plus annualized premium of 11.5% if each index closes at or above its initial level on any quarterly redemption date after one year
|
| Initial levels: | 7,158.591 for Nasdaq, 26,191.22 for Dow
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| Trigger levels: | 4,295.155 for Nasdaq, 15,714.732 for Dow; 60% of initial levels
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| Pricing date: | Nov. 8
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| Settlement date: | Nov. 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
|
| Cusip: | 17326YFV3
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