Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.13 million autocallable securities on tech stocks
By Wendy Van Sickle
Columbus, Ohio, July 26 – Citigroup Global Markets Holdings Inc. priced $5.13 million of 8% autocallable equity-linked securities due July 21, 2021 linked to the common stocks of Amazon.com, Inc. and Apple Inc., the class C capital stock of Alphabet Inc. and the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be called at par plus the coupon if all stocks close at or above the initial share price on any quarterly autocall review date.
The payout at maturity will be par unless any stock finishes below the 60% downside threshold, in which case investors will be fully exposed to the loss of the worst performing stock.
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 equity-linked securities
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| Underlying stocks: | Amazon.com, Inc. and Apple Inc., Alphabet Inc. and Facebook, Inc.
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| Amount: | $5,129,000
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| Maturity: | July 21, 2021
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| Coupon: | 8%, payable monthly
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| Price: | Par
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| Payout at maturity: | If final price of each stock is greater than or equal to downside threshold, par; otherwise, full exposure to decline of worst performing stock
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| Call: | At par plus the coupon if all stocks close at or above the initial share price on any quarterly autocall review date
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| Initial share prices: | $1,822.49 for Amazon, $190.91 for Apple, $1,183.86 for Alphabet, $207.23 for Facebook
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| Downside thresholds: | $1,093.494 for Amazon, $114.546 for Apple, $710.316 for Alphabet, $124.338 for Facebook, 60% of initial share prices
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| Pricing date: | July 16
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| Settlement date: | July 19
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17324CXE1
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