Published on 4/22/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.29 million contingent coupon autocalls on tech stocks
By Wendy Van Sickle
Columbus, Ohio, April 22 – Citigroup Global Markets Holdings Inc. priced $3.29 million of autocallable contingent coupon equity linked securities due Oct. 21, 2019 linked to the worst performing of the shares of Facebook, Inc., Alphabet Inc., Netflix, Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 12.5% if each stock closes at or above its 70% coupon barrier on the observation date for that period.
The notes are called at par if each stock closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless any stock finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the worst performing stock from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying stocks: | Facebook, Inc., Alphabet Inc., Netflix, Inc. and Amazon.com, Inc.
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| Amount: | $3,294,000
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| Maturity: | Oct. 21, 2019
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| Coupon: | 12.5% annualized, payable each month that each stock closes at or above coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its final barrier value, in which case investors will be fully exposed to the decline of the worst performing stock from its initial level
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| Call: | At par if each stock closes at or above its initial price on any monthly determination date
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| Initial prices: | $178.87 for Facebook, $1,231.91 for Alphabet, $359.46 for Netflix, $1,863.04 for Amazon
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| Coupon barriers: | $125.209 for Facebook, $862.337 for Alphabet, $251.622 for Netflix, $1,304.128 for Amazon; 70% of initial prices
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| Final barrier values: | $125.209 for Facebook, $862.337 for Alphabet, $251.622 for Netflix, $1,304.128 for Amazon; 70% of initial prices
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| Pricing date: | April 16
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| Settlement date: | April 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324XGG9
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