Published on 7/27/2017 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.08 million callable contingent coupon notes on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, July 27 – Citigroup Global Markets Holdings Inc. priced $1.08 million of callable contingent coupon equity linked securities due July 29, 2027 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any contingent coupon payment date after a year.
The payout at maturity will be par plus the contingent coupon unless either index finishes below it 50% trigger, in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Holdings Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity linked securities
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $1,075,000
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| Maturity: | July 29, 2027
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| Coupon: | 7% per year, payable quarterly if each index closes at or above 70% coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls by more than 50%, in which case full exposure to losses of worst performing index
|
| Call option: | At par on any interest payment date after a year
|
| Initial levels: | 1,450.387 for Russell and 3,473.54 for Stoxx
|
| Coupon barriers: | 1,015.271 for Russell and 2,431.478 for Stoxx; 70% of initial levels
|
| Trigger levels: | 725.194 for Russell and 1,736.77 for Stoxx; 50% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 28
|
| Underwriter: | Citigroup Global Markets Holdings Inc.
|
| Fees: | 2.87%
|
| Cusip: | 17324CLC8
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