Published on 10/8/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $4.01 million 9% contingent coupon autocalls on tech stocks
By Susanna Moon
Chicago, Oct. 8 – Citigroup Global Markets Holdings Inc. priced $4.01 million of autocallable contingent coupon equity-linked securities due Sept. 30, 2021 linked to the worst performing of the common stocks of Amazon.com Inc., Facebook, Inc., Apple Inc. and Netflix, Inc., ccording to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9% if each stock closes at or above its 50% coupon barrier on the review date for that month.
The notes will be called at par if each stock closes at or above its initial level on any review date.
The payout at maturity will be par unless any stock finishes below its 50% barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by Citigroup Global Markets 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 assets: | Amazon.com Inc. (Symbol: AMZN), Apple, Inc. (Symbol: AAPL), Alphabet, Inc. (Symbol: GOOG) and Netflix, Inc. (Symbol: NFLX)
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| Amount: | $4,013,000
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| Maturity: | Sept. 30, 2021
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| Coupon: | 9% annualized, payable monthly if each stock closes at or above 50% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 50% barrier, in which case 1% loss for each 1% decline of worst performing stock
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| Call option: | At par if each stock closes at or above its initial level on any quarterly review date
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| Initial levels: | $1,974.55 for Amazon, $222.19 for Apple, $1,184.65 for Alphabet and $369.43 for Netflix
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| Barrier levels: | $987.275 for Amazon, $111.095 for Apple, $592.325 for Alphabet and $184.715 for Netflix, 50% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.85%
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| Cusip: | 17326YEC6
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