Published on 1/22/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.23 million jump autocallables on S&P, Russell, Stoxx
By Tali Rackner
Minneapolis, Jan. 22 – Citigroup Global Markets Holdings Inc. priced $3.23 million of 0% jump securities with autocallable feature due Jan. 14, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Beginning Jan. 17, 2019, the notes will be automatically called at par plus a call premium of 13.05% per year if each index closes at or above its initial level on any of the first eight quarterly valuation dates.
If each index finishes at or above its initial level, the payout at maturity will be par plus a 39.15% premium.
The payout will be par if any index finishes below its initial level but each index finishes at or above its trigger level, 75% of its initial level.
If any index finishes below its trigger level, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Citigroup Global Markets Inc. is the agent, with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $3.23 million
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| Maturity: | Jan. 14, 2021
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If each index finishes at or above initial level, par plus 39.15%; if any index falls but not below its trigger level, par; if any index finishes below trigger level, 1% loss for every 1% that least-performing index declines from initial level
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| Call: | Beginning Jan. 17, 2019, automatically at par plus 13.05% call premium if each index finishes at or above its initial level on any of the first eight quarterly valuation dates
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| Initial levels: | 2,748.23 for S&P, 1,559.801 for Russell and 3,609.83 for Euro Stoxx
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| Trigger levels: | 2,061.173 for S&P, 1,169.851 for Russell and 2,707.373 for Euro Stoxx, 75% of initial levels
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 16
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| Agent: | Citigroup Global Markets Holdings Inc.
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 3%
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| Cusip: | 17324CQL3
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