Published on 11/5/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $13.55 million 14% contingent yield trigger callables on indexes
By Susanna Moon
Chicago, Nov. 5 – Citigroup Global Markets Holdings Inc. priced $13.55 million of trigger callable contingent yield notes with daily coupon observation due Oct. 28, 2020 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 14% if each index closes at or above its 75% coupon barrier on each day during that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless any underlying index finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes are guaranteed by Citigroup Inc.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $13,552,800
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| Maturity: | Oct. 28, 2020
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| Coupon: | 14% annualized, payable quarterly if each index closes at or above its 75% coupon barrier on each day during that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worst performing index
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| Call option: | At par on any interest payment date
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| Initial levels: | 2,740.69 for S&P, 1,526.587 for Russell, 3,140.94 for Stoxx
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| Downside thresholds: | 2,055.518 for S&P, 1,144.94 for Russell, 2,355.705 for Stoxx, 75% of initial levels
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 26
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| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17326X686
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