Published on 5/24/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.88 million contingent coupon autocalls on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, May 24 – Citigroup Global Markets Holdings Inc. priced $2.88 million of autocallable contingent coupon equity linked securities due May 26, 2022 linked to the lesser performing of the Russell 2000 index, the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7.3% if each underlying asset closes at or above its 60% coupon barrier on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any valuation date between May 2019 and February 2022.
The payout at maturity will be par plus the contingent coupon unless any asset finishes below its 60% barrier level, in which case investors will be fully exposed any losses of the least-performing asset.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Russell 2000 index, Euro Stoxx 50 index, SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $2,875,000
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| Maturity: | May 26, 2022
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| Coupon: | 7.3% annualized, payable quarterly if each underlying asset closes at or above coupon barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below barrier, in which case full exposure to losses of the least-performing asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any valuation date between May 2019 and February 2022
|
| Initial levels: | 1,637.442 for Russell, 3,572.57 for Stoxx, $44.22 for SPDR
|
| Coupon barrier/barriers: | 982.465 for Russell, 2,143.542 for Stoxx, $26.532 for SPDR, 60% of initial levels
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| Pricing date: | May 21
|
| Settlement date: | May 24
|
| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.6%
|
| Cusip: | 17324CUW4
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