Published on 7/30/2018 in the Prospect News Structured Products Daily.
New Issue: Citi sells $4 million contingent coupon autocalls on indexes, fund
By Wendy Van Sickle
Columbus, Ohio, July 30 – Citigroup Global Markets Holdings Inc. priced $4 million of autocallable contingent coupon equity linked securities due July 25, 2022 linked to the worst performing of the Russell 2000 index, the Euro Stoxx 50 index, the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlying asset closes at or above its 60% coupon barrier on the observation date.
The notes are called at par if each asset closes at or above its initial level on any determination date after one year.
The payout at maturity will be par unless any underlying finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worst performing fund.
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 assets: | Russell 2000 index, Euro Stoxx 50 index, SPDR S&P Oil & Gas Exploration & Production
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| Amount: | $4,002,000
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| Maturity: | July 25, 2022
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| Coupon: | 8% annualized, payable quarterly if each asset closes at or above 60% coupon barrier on observation date
|
| Price: | Par
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| Payout at maturity: | If each finishes above knock-in level, par; otherwise, 1% loss for each 1% decline of worse performing asset
|
| Call: | At par if each asset closes at or above its initial level on any determination date beginning in July 2019
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| Initial levels: | 1,696.808 for Russell, 3,460.03 for Stoxx, $42.50 for ETF
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| Knock-in levels: | 1,018.085 for Russell, 2,076.018 for Stoxx, $25.50 ETF, 60% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 25
|
| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.6%
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| Cusip: | 17324CX92
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