Published on 12/19/2018 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.86 million contingent coupon autocalls on S&P, Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – Citigroup Global Markets Holdings Inc. priced $2.86 million of autocallable contingent coupon equity-linked securities due Dec. 19, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, 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 8% if each index closes at or above the 60% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly review date from December 2019 to September 2023.
The payout at maturity will be par unless any index falls below the 60% threshold, in which case investors will be fully exposed to any decline of the worst performing index.
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 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $2,855,000
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| Maturity: | Dec. 19, 2023
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| Coupon: | 8% annualized, payable monthly if each index closes at or above 60% coupon barrier on valuation date for that month
|
| 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 if each index closes at or above its initial level on any quarterly review date from December 2019 to September 2023
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| Initial levels: | 24,100.51 for Dow, 1,410.813 for Russell, 2,559.95 for S&P
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| Coupon barriers: | 14,460.306 for Dow, 846.488 for Russell, 1,559.97 for S&P, 60% of initial levels
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| Trigger levels: | 14,460.306 for Dow, 846.488 for Russell, 1,559.97 for S&P, 60% of initial levels
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17326YTP1
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