Published on 8/22/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.5 million callable contingent coupon notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – Citigroup Global Markets Holdings Inc. priced $1.5 million of callable contingent coupon notes due Aug. 24, 2028 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 8.4% if each underlying asset closes at or above its coupon barrier level, 75% of its initial price, on the observation date for that period.
The notes will be callable in whole at par on any observation date after one year.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
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: | Callable contingent coupon notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $1.5 million
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Maturity: | Aug. 24, 2028
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Contingent coupon: | 8.4% per year, payable quarterly if each underlying asset closes at or above coupon barrier level observation date for that period
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Price: | Par
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Payout at maturity: | If each asset finishes at or above barrier level, par; otherwise, full exposure to losses of least-performing asset
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Call option: | Callable at par on any observation date after one year
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Initial index levels: | 3,393.67 for Stoxx and 1,698.693 for Russell 2000
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Coupon barriers: | 2,545.253 for Stoxx and 1,274.02 for Russell 2000, 75% of initial levels
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Barriers: | 2,036.202 for Stoxx and 1,019.216 for Russell 2000, 60% of initial levels
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Pricing date: | Aug. 20
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Settlement date: | Aug. 23
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17326Y2A3
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