Published on 10/30/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.06 million step-down trigger autocalls on Stoxx, S&P
By Sarah Lizee
Olympia, Wash., Oct. 30 – Citigroup Global Markets Holdings Inc. priced $2.06 million of 0% step-down trigger autocallable notes due March 31, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par of $10 plus 9.8% per year if each asset closes at or above its initial level on any annual observation date, except the final one when the call threshold will be the 70% downside threshold level.
If the notes are not subject to an automatic call, that means the final level of at least one asset will be less than its downside threshold, 70% of its initial level, and investors will be exposed to the decline of the lesser-performing asset from its initial level.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | CitigroupGlobal Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying indexes: | Euro Stoxx 50 index, S&P 500 index
|
| Amount: | $2,057,000
|
| Maturity: | March 31, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | Automatically at par plus 9.8% per year if each asset closes at or above its initial level on any observation date except the final one, when the call level will be the downside threshold
|
| Payout at maturity: | Full exposure to decline of lesser-performing asset from initial level
|
| Initial index levels: | 3,154.93 for Stoxx, 2,641.25 for S&P
|
| Downside thresholds: | 2,208.451 for Stoxx, 1,848.875 for S&P; 70% of initial levels
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17326X256
|
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