Published on 7/26/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.07 million autocallable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, July 26 – Citigroup Global Markets Holdings Inc. priced $1.07 million of 0% autocallable securities due July 20, 2023 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any of the first four annual valuation dates, the notes will be called at par plus a premium of 8.6% per year.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 43%.
If any index falls but none finish below the 60% trigger level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable securities
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Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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Amount: | $1,702,000
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Maturity: | July 20, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus 43%; if any index falls but each finishes at or above trigger level, par; otherwise, 1% loss for each 1% decline of the worst performing index from its initial level
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Call: | Automatically at par plus annualized premium of 8.6% if each index closes at or above its initial level on any of first four annual valuation dates
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Initial levels: | 2,809.55 for S&P, 25,119.89 for Dow and 1,687.264 for Russell 2000
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Triggers: | 1,685.73 for S&P, 15,071.934 for Dow and 1,012.358; 60% of initial levels
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Pricing date: | July 17
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Settlement date: | July 20
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.975%
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Cusip: | 17324CWR3
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