Published on 11/30/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.37 million contingent coupon autocalls on S&P, Russell, Gold Miners, EM ETF
By Wendy Van Sickle
Columbus, Ohio, Nov. 30 – Citigroup Global Markets Holdings Inc. priced $1.37 million of autocallable contingent coupon equity-linked securities due March 3, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index, the iShares MSCI Emerging Markets ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 13.2% if each asset closes at or above the 65% threshold on the observation date for that month.
The notes will be called at par if each asset closes at or above its initial level on any observation date after six months.
The payout at maturity will be par unless any asset finishes below its initial level and any asset closes below the 65% threshold during the life of the notes, in which case investors will be fully exposed to any decline of the worst performing asset.
Citigroup Global Markets Inc. is are 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 assets: | S&P 500 index, Russell 2000 index, iShares MSCI Emerging Markets ETF and VanEck Vectors Gold Miners ETF
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| Amount: | $1,373,000
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| Maturity: | March 3, 2020
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| Coupon: | 13.2% annualized, payable monthly if each asset closes at or above 65% coupon barrier on valuation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and any asset closes below the 65% threshold during the life of the notes, in which case investors will be fully exposed to any decline of the worst performing asset
|
| Call: | At par if each asset closes at or above its initial level on any observation date after six months
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| Initial levels: | 2,682.17 for S&P, 1,492.855 for Russell, $18.87 for Gold Miners, $40.51 for Emerging Markets
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| Coupon barriers: | 1,743.411 for S&P, 970.356 for Russell, $12.266 for Gold Miners, $26.332 for Emerging Markets, 65% of initial levels
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| Trigger levels: | 1,743.411 for S&P, 970.356 for Russell, $12.266 for Gold Miners, $26.332 for Emerging Markets, 65% of initial levels
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17326Y6E1
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