Published on 5/1/2017 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.97 million step down trigger autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., May 1 – Citigroup Global Markets Holdings Inc. priced $3.97 million of 0% step down trigger autocallable notes due May 1, 2020 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par of $10 plus 10% per year if each index closes at or above its call threshold level on any annual observation date. For each index, the call threshold level will be equal to the initial index level for May 2, 2018 and April 29, 2019 and 75% of the initial index level on April 27, 2020.
If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, 75% of its initial level, and investors will be exposed to the decline of the least-performing index from its initial level.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Step down trigger autocallable notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $3.97 million
|
| Maturity: | May 1, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Full exposure to decline of least-performing index from initial level
|
| Call: | At par plus 10% per year if each index closes at or above its call threshold level on any annual observation date
|
| Initial index levels: | 2,388.77 for S&P 500, 1,417.127 for Russell 2000 and 3,563.29 for Euro Stoxx 50
|
| Downside thresholds: | 1,791.578 for S&P 500, 1,062.845 for Russell 2000 and 2,672.468 for Euro Stoxx 50; 75% of initial levels
|
| Call threshold levels: | Equal to initial index levels for May 2, 2018 and April 29, 2019 and equal to downside thresholds for April 27, 2020
|
| Pricing date: | April 27
|
| Settlement date: | May 2
|
| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17325E796
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
