Published on 7/9/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.26 million 8.65% contingent coupon autocalls tied to S&P, Russell, Stoxx
By Susanna Moon
Chicago, July 9 – Citigroup Global Markets Holdings Inc. priced $1.26 million of autocallable contingent coupon equity-linked securities due July 3, 2023 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.65% if each index closes at or above its 70% coupon barrier on each day during that month.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless any index finishes below its 70% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $1,262,000
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| Maturity: | July 3, 2023
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| Coupon: | 8.65% annualized, payable monthly if each f index closes at or above 70% coupon barrier on each trading day for that month
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| Price: | Par
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| Payout at maturity: | If each index closes above barrier, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date beginning in June 2019 and ending in March 2023
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| Initial levels: | 2,716.31 for S&P, 1,645.017 for Russell, 3,365.52 for Stoxx
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| Trigger levels: | 1,901.417 for S&P, 1,151.5119 for Russell, 2,355.864 for Stoxx, 70% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as a distributor
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| Fees: | 0.5%
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| Cusip: | 17324CWT9
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