Published on 5/8/2018 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.02 million dual directional barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 8 – Citigroup Global Markets Holdings Inc. priced $1.02 million of 0% dual directional barrier securities due April 26, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index finishes at or above the initial level, the payout at maturity will be par plus the lesser-performing index return.
If the laggard index finishes below the initial level but at or above the 65% barrier level, the payout at maturity will be par plus the absolute value of the laggard index return.
If the laggard index finishes below the barrier level, investors will have one-to-one exposure to the laggard index’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $1,022,000
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| Maturity: | April 26, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If laggard index finishes at or above the initial level, plus laggard index return; if laggard index finishes below the initial level but at or above the barrier level, par plus the absolute value of laggard index return; if laggard index finishes below the barrier level, one-to-one exposure to laggard index’s decline from its initial level
|
| Initial levels: | 2,666.94 for S&P, 1,557.985 for Russell
|
| Barrier levels: | 1,733.511 for S&P, 1,012.632 for Russell, 65% of initial levels
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| Pricing date: | April 26
|
| Settlement date: | May 1
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.9%
|
| Cusip: | 17324CTX4
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