Published on 10/4/2017 in the Prospect News Structured Products Daily.
New Issue: Citi prices $288,000 contingent coupon autocallables tied to stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – Citigroup Global Markets Holdings Inc. priced $288,000 of autocallable contingent coupon equity-linked securities due Oct. 1, 2019 linked to the lesser performing of the common stocks of TripAdvisor, Inc., salesforce.com, inc., Facebook, Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 7% if each stock closes at or above its 50% coupon barrier on the valuation date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call valuation date beginning in December.
The payout at maturity will be par plus the contingent coupon unless any stock closes below its 50% barrier level, in which case the payout will be a number of shares of the worst performing stock equal to $1,000 divided by the initial share price, 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | TripAdvisor, Inc., salesforce.com, Facebook, Inc. and FedEx Corp.
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| Amount: | $288,000
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| Maturity: | Oct. 1, 2019
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| Coupon: | 7% per year, payable monthly if each stock closes at or above 50% coupon barrier on valuation date for that month
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier price, par plus contingent coupon; otherwise, shares of least performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly call valuation date beginning in December
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| Initial share prices: | $41.33 for TripAdvisor, $92.34 for salesforce.com, $164.21 for Facebook and $219.81 for FedEx
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| Barrier prices: | $20.565 for TripAdvisor, $46.170 for salesforce.com, $82.105 for Facebook and $109.905 for FedEx; 50% of initial share prices
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.35%
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| Cusip: | 17324CM60
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