Published on 12/31/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $30,000 autocallable equity-linked notes on four stocks
By Sarah Lizee
Olympia, Wash., Dec. 31 – Citigroup Global Markets Holdings Inc. priced $30,000 of autocallable equity-linked securities due Dec. 30, 2021 tied to the stocks of Amazon.com, Inc., Apple Inc., Alphabet Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 10.8% per year, payable monthly.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly observation date.
If the notes are not called and the final price each stock is at least 70.75% of its initial price, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the worst performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Amazon.com, Inc., Apple Inc., Alphabet Inc. and Netflix, Inc.
|
| Amount: | $30,000
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| Maturity: | Dec. 30, 2021
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| Coupon: | 10.8%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 70.75% of initial price; otherwise, exposure to the decline of the worst performing stock
|
| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any quarterly observation date
|
| Initial prices: | $1,470.90 for Amazon, $157.17 for Apple, $1,047.85 for Alphabet, $253.67 for Netflix
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| Downside thresholds: | $1,040.662 for Amazon, $111.198 for Apple, $741.354 for Alphabet, $179.472 for Netflix; 70.75% of initial prices
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| Pricing date: | Dec. 26
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| Settlement date: | Dec. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.85%
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| Cusip: | 17326YME3
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