Published on 10/29/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7.74 million contingent coupon autocalls on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – Citigroup Global Markets Holdings Inc. priced $7.74 million of autocallable contingent coupon equity linked securities due Oct. 27, 2022 linked to the worst performing of iShares MSCI EAFE ETF, the Russell 2000 index and the S&P 500 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 11.8% if each underlying asset closes at or above its 80% coupon barrier on each day that quarter.
The notes will be called at par if each asset closes at or above its initial level on any quarterly autocall date after six months.
The payout at maturity will be par unless any underlying finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worst performing asset.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying assets: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $7,744,000
|
| Maturity: | Oct. 27, 2022
|
| Coupon: | 11.8% annualized, payable quarterly if each asset closes at or above 80% coupon barrier on each day that quarter
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes above barrier level, par; otherwise, 1% loss for each 1% decline of worst performing asset
|
| Call: | At par if each asset closes at or above its initial level on any quarterly autocall date after six months
|
| Initial levels: | $62.86 for ETF, 1,526.587 for Russell, 2,740.69 for S&P
|
| Coupon barriers: | $50.288 for ETF, 1,221.27 for Russell, 2,192.552 for S&P, 80% of initial levels
|
| Barriers: | $37.716 for ETF, 915.952 for Russell, 1,644.414 for S&P, 60% of initial levels
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 26
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.125%
|
| Cusip: | 17326YZ74
|
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