Published on 12/11/2018 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1 million contingent coupon autocalls on indexes, ETFs
By Sarah Lizee
Olympia, Wash., Dec. 11 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due March 11, 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 quarterly coupon at an annual rate of 12.76% if each asset closes at or above the 65% threshold on the observation date for that quarter.
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.
|
Guarantor: | Citigroup Global Markets Inc.
|
Issue: | Autocallable contingent coupon equity-linked securities
|
Underlying assets: | S&P 500 index, Russell 2000 index, iShares MSCI Emerging Markets ETF and VanEck Vectors Gold Miners ETF
|
Amount: | $1 million
|
Maturity: | March 11, 2020
|
Coupon: | 12.76% annualized, payable quarterly if each asset closes at or above 65% coupon barrier on valuation date for that quarter
|
Price: | Par
|
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
|
Initial levels: | 2,695.95 for S&P, 1,477.412 for Russell, $19.71 for Gold Miners, $40.64 for Emerging Markets
|
Coupon barriers: | 1,752.368 for S&P, 960.318 for Russell, $12.812 for Gold Miners, $26.416 for Emerging Markets, 65% of initial levels
|
Trigger levels: | 1,752.368 for S&P, 960.318 for Russell, $12.812 for Gold Miners, $26.416 for Emerging Markets, 65% of initial levels
|
Pricing date: | Dec. 6
|
Settlement date: | Dec. 11
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 0.25%
|
Cusip: | 17326YDW3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.