Published on 4/22/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.58 million contingent coupon autocalls on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, April 22 – Citigroup Global Markets Holdings Inc. priced $3.58 million of autocallable contingent coupon equity linked securities due July 21, 2020 linked to the worst performing of the S&P 500 index, the Russell 2000 index, the MSCI Emerging Markets index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 11.65% if each asset closes at or above its 65% coupon barrier on the observation date for that period.
The notes are called at par if each asset closes at or above its initial level on any monthly determination date after six months.
The payout at maturity will be par unless any asset finishes below its initial level and any asset ever closes below its 65% knock-in level any day during the life of the notes, in which case investors will be fully exposed to the decline of the worst performing asset from its initial level.
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 assets: | S&P 500 index, Russell 2000 index, MSCI Emerging Markets index and VanEck Vectors Gold Miners ETF
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| Amount: | $3,583,000
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| Maturity: | July 21, 2020
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| Coupon: | 11.65% annualized, payable each month that each asset closes at or above coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and any asset ever closes below knock-in level, in which case investors will be fully exposed to the decline of the worst performing asset from its initial level
|
| Call: | At par if each asset closes at or above its initial price on any monthly determination date after six months
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| Initial prices: | 2,907.41 for S&P, 1,584.802 for Russell, 1,089.09 for Emerging Markets, $22.21 for ETF
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| Coupon barriers: | 1,889.817 for S&P, 1,030.121 for Russell, 707.909 for Emerging Markets, $14.437 for ETF; 65% of initial levels
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| Knock-in levels: | 1,889.817 for S&P, 1,030.121 for Russell, 707.909 for Emerging Markets, $14.437 for ETF; 65% of initial levels
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| Pricing date: | April 16
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| Settlement date: | April 22
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17326YPQ3
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