Published on 4/22/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.43 million contingent coupon autocallables on stocks
By Marisa Wong
Morgantown, W.Va., April 22 – Citigroup Global Markets Holdings Inc. priced $1,434,000 of autocallable contingent coupon notes due April 4, 2024 linked to the least performing of the common stocks of Alaska Air Group, Inc., CVS Health Corp. and Wynn Resorts, Ltd., 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 20.75% if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date.
The notes will be called at par if each stock closes at or above its initial level on any monthly call observation date from December 2019 through February 2024.
The payout at maturity will be par unless any stock finishes below its 50% barrier level, in which case the payout will be par plus the return of the worst performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Alaska Air Group, Inc. (Symbol: ALK), CVS Health Corp. (Symbol: CVS), Wynn Resorts, Ltd. (Symbol: WYNN)
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| Amount: | $1,434,000
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| Maturity: | April 4, 2024
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| Coupon: | 20.75% annualized, payable monthly if each stock closes at or above coupon barrier on related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below final barrier, in which case full exposure to decline of worst performing stock
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| Call: | At par if each stock closes at or above its initial value on any quarterly call observation date from December 2019 through February 2024
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| Initial values: | $56.12 for Alaska Air, $53.93 for CVS, $119.32 for Wynn
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| Coupon barriers: | $33.672 for Alaska Air, $32.358 for CVS, $71.592 for Wynn; 60% of initial values
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| Final barrier values: | $28.060 for Alaska Air, $26.965 for CVS, $59.660 for Wynn; 50% of initial values
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17326YPH3
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