Published on 10/31/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.16 million 6.05% contingent coupon autocalls tied to S&P, Russell
By Susanna Moon
Chicago, Oct. 31 – Citigroup Global Markets Holdings Inc. priced $1.16 million of autocallable contingent coupon equity-linked securities due Oct. 21, 2021 linked to the least performing of 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 6.05% if each index closes at or above its 65% coupon barrier on the valuation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless either index finishes below its 60% trigger 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.
| 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: | S&P 500, Russell 2000
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| Amount: | $1,156,000
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| Maturity: | Oct. 21, 2021
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| Coupon: | 6.05% annualized, payable quarterly if each index closes at or above 65% coupon barrier on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index closes above 60% trigger, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly review date beginning in October 2019
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| Initial levels: | 2,768.78 for S&P, 1,560.752 for Russell
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| Coupon barriers: | 1,799.707 for S&P, 1,014.489 for Russell, 65% of initial levels
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| Trigger levels: | 1,661.268 for S&P, 936.451 for Russell, 60% of initial levels
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17326YQ58
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