Published on 6/6/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $12.28 million contingent income autocallables on Amazon, Facebook
By Wendy Van Sickle
Columbus, Ohio, June 6 – Citigroup Global Markets Holdings Inc. priced $12.28 million of autocallable contingent income securities due Nov. 29, 2019 linked to the lesser performing of the common stock of Amazon.com, Inc. and the class A common stock of Facebook, 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 10.25% if each stock closes at or above its 65% coupon barrier on the related observation date.
The notes will be called at par of $10 plus the contingent coupon if each stock closes at or above its initial share price on any observation date.
The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses of the laggard stock.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent income securities
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| Underlying stocks: | Facebook, Inc. (Symbol: FB), Amazon.com, Inc. (Symbol: AMZN)
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| Amount: | $12,279,000
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| Maturity: | Nov. 29, 2019
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| Coupon: | 10.25% per year, payable quarterly if each stock closes at or above coupon barrier on determination date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold, par; otherwise, full exposure to decline of laggard stock
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| Call: | At par if each stock closes at or above initial level on any determination date Initial share prices: | $1,610.15 for Amazon, $184.92 for Facebook
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| Coupon barriers: | $1,046.598 for Amazon, $120.98 for Facebook; 65% of initial share prices
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| Downside thresholds: | $1,046.598 for Amazon, $120.98 for Facebook; 65% of initial share prices
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agent: | Citigroup Global Markets Inc.
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 17326K544
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