Published on 3/4/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.93 million contingent coupon autocalls tied to Amazon
By Wendy Van Sickle
Columbus, Ohio, March 4 – Citigroup Global Markets Holdings Inc. priced $1.93 million of contingent coupon autocallable notes due March 3, 2020 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the underlying stock closes at or above its 77% coupon barrier on the observation date for that period.
The notes will be called at par of $5,000 if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock closes below its 77% barrier level, in which case investors will receive 3.04676 Amazon shares or, at the issuer’s option, cash.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent coupon autocallable notes
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| Underlying assets: | Amazon.com, Inc.
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| Amount: | $1,925,000
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| Maturity: | March 3, 2020
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| Coupon: | 8% annualized, payable quarterly if stock closes at or above 77% coupon barrier on observation date for that period
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| Price: | Par of $5,000
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| Payout at maturity: | Par unless stock closes below 77% barrier level, in which case investors will receive 3.04676 Amazon shares or, at the issuer’s option, cash
|
| Call: | At par if stock closes at or above initial level on any quarterly observation date
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| Initial level: | $1,641.09
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| Barrier level: | $1,263.639, 77% of initial level
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| Pricing date: | Feb. 27
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| Settlement date: | March 4
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 5%
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| Cusip: | 17324XLD0
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