Published on 4/10/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.06 million autocallable equity-linked notes on three stocks
By Sarah Lizee
Olympia, Wash., April 10 – Citigroup Global Markets Holdings Inc. priced $1.06 million of autocallable equity-linked securities due April 9, 2020 tied to bluebird bio, Inc., Twilio Inc. and Zillow Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 21.281% per year, payable monthly.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly observation date.
If the notes are not called and the final price of each stock is at least 55% of its initial price, the payout at maturity will be par. Otherwise, the payout will be the final share price of the worst-performing stock multiplied by its equity ratio, $1,000 divided by the initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying stocks: | bluebird bio, Inc., Twilio Inc. and Zillow Group, Inc.
|
| Amount: | $1,063,000
|
| Maturity: | April 9, 2020
|
| Coupon: | 21.281% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if each stock’s final price is at least 55% of initial price; otherwise, final share price of the worst-performing stock multiplied by its equity ratio
|
| Call: | Automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly observation date
|
| Initial prices: | $161.71 for bluebird, $122.42 for Twilio, $37.27 for Zillow
|
| Downside thresholds: | $88.941 for bluebird, $67.331 for Twilio, $20.499 for Zillow; 55% of initial prices
|
| Equity ratios: | 6.18391 for bluebird, 8.16860 for Twilio, 26.83123 for Zillow
|
| Pricing date: | April 5
|
| Settlement date: | April 10
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.875%
|
| Cusip: | 17324XMF4
|
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