Published on 12/6/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.62 million autocallable securities on Nasdaq, Russell
By Sarah Lizee
Olympia, Wash., Dec. 6 – Citigroup Global Markets Holdings Inc. priced $1.62 million of autocallable securities due Dec. 1, 2023 linked to the Nasdaq-100 index and the Russell 2000 index, 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 11.4% if the closing level of each underlying index is at or above its initial level on any quarterly review date after one year.
If either index declines but not below the 70% 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.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $1,623,000
|
| Maturity: | Dec. 1, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 57%; if either index falls by up to 30%, 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 11.4% if each index closes at or above its initial level on any quarterly redemption date after one year
|
| Initial levels: | 6,913.326 for Nasdaq, 1,530.384 for Russell 2000
|
| Trigger levels: | 4,839.328 for Nasdaq, 1,071.269 for Russell 2000; 70% of initial levels
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17326YZE9
|
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