Published on 11/30/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.8 million contingent coupon autocalls on Nasdaq, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 30 – Citigroup Global Markets Holdings Inc. priced $2.8 million of autocallable contingent coupon equity-linked securities due Dec. 6, 2021 linked to the least performing of the Nasdaq-100 index, the Russell 2000 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 pay a contingent quarterly coupon at an annual rate of 8.2% if each index closes at or above the 65% threshold on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date from May 2019 to August 2021.
The payout at maturity will be par unless any index falls below the 65% threshold, in which case investors will be fully exposed to any decline of the worst performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $2.8 million
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| Maturity: | Dec. 6, 2021
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| Coupon: | 8.2% annualized, payable quarterly if each index closes at or above 65% coupon barrier on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index closes above 65% trigger, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly review date from May 2019 to August 2021
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| Initial levels: | 25,366.43 for Dow, 1,530.384 for Russell, 6,913.326 for Nasdaq
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| Coupon barriers: | 16,488.18 for Dow, 994.75 for Russell, 4,493.662 for Nasdaq, 65% of initial levels
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| Trigger levels: | 16,488.18 for Dow, 994.75 for Russell, 4,493.662 for Nasdaq, 65% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17326YYS9
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