Published on 6/4/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $6.42 million contingent coupon autocallable notes tied to tech stocks
By Sarah Lizee
Olympia, Wash., June 4 – Citigroup Global Markets Holdings Inc. priced $6.42 million of autocallable contingent coupon equity-linked securities due June 3, 2022 tied to the common of Apple Inc., Netflix, Inc., Alphabet Inc. and Amazon.com, 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 9.5% per year, payable monthly if each stock closes above its coupon barrier, 50% of its initial level, on the observation date for that period.
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 autocall date.
If the notes are not called and the final price each stock is at least 50% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Apple Inc., Netflix, Inc., Alphabet Inc. and Amazon.com, Inc.
|
| Amount: | $6,418,000
|
| Maturity: | June 3, 2022
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| Coupon: | 9.5%, payable monthly if stocks close above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par if each stock’s final price is at least 50% of initial price; otherwise, full exposure to decline of worst-performing stock
|
| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any quarterly autocall date
|
| Initial prices: | $178.23 for Apple, $354.78 for Netflix, $1,134.15 for Alphabet, $1,836.43 for Amazon
|
| Downside thresholds: | $89.115 for Apple, $177.390 for Netflix, $567.075 for Alphabet, $918.215 for Amazon; 50% of initial prices
|
| Pricing date: | May 28
|
| Settlement date: | May 31
|
| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.35%
|
| Cusip: | 17326Y4A1
|
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