Published on 6/21/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $14.45 million autocallable buffered notes on index basket
By Wendy Van Sickle
Columbus, Ohio, June 21 – Citigroup Global Markets Holdings Inc. priced $14.45 million of 0% autocallable buffered notes due June 22, 2022 linked a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
The notes will be automatically called at par plus a call premium if the basket closes at or above the initial basket level on either of two call observation dates. The call premium will be 11% for the first call observation date on June 26, 2020 and 22% for the second call observation date on June 21, 2021.
If the notes are not called and the basket return is zero or positive, the payout at maturity will be par plus a fixed return of 33%. Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
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 buffered basket-linked notes
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| Underlying basket: | Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (19% weight), Swiss Market (10% weight) and S&P/ASX 200 (8% weight)
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| Amount: | $14,454,000
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| Maturity: | June 22, 2022
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If basket return is zero or positive, par plus 33%; par if basket declines by 10% or less; 1.1111% loss for every 1% drop beyond 10%
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| Call: | Automatically at par plus premium if basket closes at or above initial basket level on either of two call observation dates; premium is 11.1% if called on June 21, 2020 and 22% if called on June 26, 2021
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| Initial levels: | 3,454.7 for Euro Stoxx, 1,555.27 for Topix, 7,403.54 for FTSE, 9,961.65 for Swiss Market, 6,648.129 for S&P/ASX
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| Pricing date: | June 19
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| Settlement date: | June 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17326YCG9
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