Published on 4/9/2018 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $805,000 autocallable securities linked to stocks
By Wendy Van Sickle
Columbus, Ohio, April 9 – Citigroup Global Markets Holdings Inc. priced $805,000 of autocallable equity-linked securities due March 29, 2019 linked to the class A common stock of Square, Inc., the common stock of PayPal Holdings, Inc. and the common stock of American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a monthly coupon at an annual rate of 12.51%.
The notes will be called at par plus the contingent coupon if all stocks close at or above the initial share price on any monthly valuation date.
The payout at maturity will be par plus the contingent coupon, if any, unless any stock finishes below the 65% barrier level, in which case investors will receive a number of shares of the worst performing stock equal to the principal divided by the initial share price or, at the company’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying stocks: | Square, Inc., PayPal Holdings, Inc. and American Express Co.
|
| Amount: | $805,000
|
| Maturity: | March 29, 2019
|
| Coupon: | 12.51% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final price of each stock is greater than or equal to barrier level, par plus final coupon, if any; otherwise, a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
|
| Call: | At par plus contingent coupon if all stocks close at or above initial share price on any monthly valuation date
|
| Initial share prices: | $78.95 for PayPal, $53.55 for Square, $92.62 for American Express
|
| Barrier levels: | $51.318 for PayPal, $34.808 for Square, $60.203 for American Express, 65% of initial share prices
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.875%
|
| Cusip: | 17324XGN4
|
|
|
© 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.
