Published on 5/1/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $573,000 contingent coupon autocalls on three stocks
By Wendy Van Sickle
Columbus, Ohio, May 1 – Citigroup Global Markets Holdings Inc. priced $573,000 of autocallable contingent coupon notes due April 28, 2022 linked to the least performing of the common stocks of salesforce.com, inc., Spotify Technology SA and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 15.2% if each underlying stock closes at or above its 50% barrier level on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the coupon unless any stock finishes below its barrier level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stocks: | salesforce.com, inc., Spotify Technology SA and Micron Technology, Inc.
|
| Amount: | $573,000
|
| Maturity: | April 27, 2020
|
| Coupon: | 15.2% annualized, payable quarterly if each stock closes at or above barrier level on review date for that period
|
| Price: | Par of $5,000
|
| Payout at maturity: | If each stock finishes at or above barrier level, par plus coupon; otherwise, a number of shares of least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
|
| Call: | At par if each stock closes at or above its initial level on any quarterly call observation date
|
| Initial levels: | $163.09 for salesforce, $132.82 for Spotify, $42.75 for Micron
|
| Barrier levels: | $81.545 for salesforce, $66.41 for Spotify, $21.375 for Micron; 50% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.25%
|
| Cusip: | 17324XPW4
|
|
|
© 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.
