Published on 7/12/2018 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.6 million 10.95% contingent coupon autocalls on indexes, funds
By Susanna Moon
Chicago, July 12 – Citigroup Global Markets Holdings Inc. priced $1.6 million of autocallable contingent coupon equity linked securities due Oct. 9, 2019 linked to the worst performing of the Russell 2000 index, the S&P 500 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 will pay a contingent monthly coupon at an annual rate of 10.95% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that month.
The notes are called at par if each asset closes at or above its initial level on any determination date after six months.
The payout at maturity will be par unless any underlying asset ever closes below its 65% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing fund.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying assets: | Russell 2000 index, S&P 500 index, iShares MSCI Emerging Markets ETF, VanEck Vectors Gold Miners ETF
|
| Amount: | $1,595,000
|
| Maturity: | Oct. 9, 2019
|
| Coupon: | 10.95% annualized, payable monthly if each asset closes at or above 65% coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If each asset never closes below knock-in level, par; otherwise, 1% loss for each 1% decline of worse performing asset
|
| Call: | At par if each asset closes at or above its initial level on any determination date beginning in January 2019
|
| Initial levels: | 1,655.086 for Russell, 2,726.71 for S&P, $42.90 for EM fund, $22.08 for gold fund
|
| Knock-in levels: | 1,075.806 for Russell, 1,772.362 for S&P, $27.885 for EM fund, $14.352 for gold fund, 65% of initial levels
|
| Pricing date: | July 2
|
| Settlement date: | July 6
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17324CXA9
|
|
|
|
|
|
|
© 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.
