Published on 3/21/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $3.47 million contingent coupon autocalls on Facebook, Alphabet
By Wendy Van Sickle
Columbus, Ohio, March 21 – Citigroup Global Markets Holdings Inc. priced $3.47 million of autocallable contingent coupon equity-linked securities due March 20, 2019 linked to the class A common stocks of Facebook, Inc. and Alphabet 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 9% if each stock closes at or above its 77.5% coupon barrier 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 observation date.
The payout at maturity will be par unless either stock finishes below its 77.5% barrier level, in which case the payout will be par plus the return of the worse performing stock with full exposure to any losses.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| 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 asset: | Facebook, Inc., Alphabet Inc.
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| Amount: | $3,468,000
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| Maturity: | March 20, 2019
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| Coupon: | 9% annualized, payable quarterly if each stock closes at or above its coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below barrier, in which case par plus return of worse performing stock
|
| Call: | At par if each stock closes at or above its initial price on any quarterly call observation date
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| Initial levels: | $183.86 for Facebook, $1,150.61for Alphabet
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| Barrier levels: | $142.492 for Facebook, $891.723 for Alphabet, 77.5% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XLW8
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