Published on 9/7/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.03 million 7% contingent coupon autocalls tied to Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – Citigroup Global Markets Holdings Inc. priced $1.03 million of autocallable contingent coupon equity-linked securities due Sept. 5, 2028 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 60% coupon barrier on the review date that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either index finishes below its 60% 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.
The notes will price on Aug. 28.
| 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: | Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $1.03 million
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| Maturity: | Aug. 25, 2022
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| Coupon: | 7% annualized, payable quarterly if each asset closes at or above 60% coupon barrier on review date that quarter
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| Price: | Par
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| Payout at maturity: | If each finishes above barrier level, par; otherwise, 1% loss for each 1% decline of worst performing asset
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| Call: | At par if each asset closes at or above its initial level on any determination date after six months
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| Initial levels: | 1,728.422 for Russell, 3,447.57 for Stoxx
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| Coupon barriers: | 1,037.053 for Russell, 2,068.542 for Stoxx, 60% of initial levels
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| Barriers: | 1,037.053 for Russell, 2,068.542 for Stoxx, 60% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.85%
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| Cusip: | 17324CZX7
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