Published on 2/4/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $4.53 million contingent coupon autocalls on indexes, ETFs
By Marisa Wong
Morgantown, W.Va., Feb. 4 – Citigroup Global Markets Holdings Inc. priced $4.53 million of autocallable contingent coupon equity-linked securities due May 1, 2020 linked to the least performing of the S&P 500 index, Russell 2000 index, the iShares MSCI Emerging Markets exchange-traded fund and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 13.25% if each asset closes at or above the 65% coupon barrier on the related monthly observation date.
The notes will be called at par if each asset closes at or above its initial level on any monthly observation date beginning in July 2019 and ending in March 2020.
The payout at maturity will be par unless any asset finishes below its initial level and any asset closes below the 65% knock-in level on any day during the life of the notes, in which case investors will be fully exposed to any decline of the worst performing asset.
Citigroup Global Markets Inc. is are the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | S&P 500 index, Russell 2000 index, the iShares MSCI Emerging Markets exchange-traded fund and the VanEck Vectors Gold Miners ETF
|
| Amount: | $4,527,000
|
| Maturity: | May 1, 2020
|
| Coupon: | 13.25% annualized, payable monthly if each asset closes at or above coupon barrier on related monthly valuation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below its initial level and any asset closes below the knock-in level on any day during the life of the notes, in which case investors will be fully exposed to any decline of the worst performing asset
|
| Call: | At par if each asset closes at or above its initial level on any monthly valuation date beginning in July 2019 and ending in March 2020
|
| Initial levels: | 2,643.85 for S&P, 1,473.536 for Russell, $41.76 for EM ETF, $21.45 for gold ETF
|
| Coupon barriers: | 1,718.503 for S&P, 957.798 for Russell, $27.144 for EM ETF, $13.943 for gold ETF, 65% of initial levels
|
| Knock-in levels: | 1,718.503 for S&P, 957.798 for Russell, $27.144 for EM ETF, $13.943 for gold ETF, 65% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17326YRH1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
