Published on 3/20/2019 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.86 million contingent coupon autocallables on indexes
By Sarah Lizee
Olympia, Wash., March 20 – Citigroup Global Markets Holdings Inc. priced $3.86 million of autocallable contingent coupon equity linked securities due June 18, 2020 tied to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, 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 7.15% if each underlying asset closes at or above its 70% 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 monthly determination date beginning in June 2019 and ending in May 2020.
The payout at maturity will be par unless any underlying asset finishes below its initial level and any underlying asset has ever closed below its 70% barrier level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing asset.
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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $3,864,000
|
| Maturity: | June 18, 2020
|
| Coupon: | 7.15% annualized, payable each month that each asset closes at or above coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying asset finishes below its initial level and any underlying asset has ever closed below its 70% barrier level during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing asset
|
| Call: | At par if each asset closes at or above its initial level on any monthly determination date beginning in June 2019 and ending in May 2020
|
| Initial levels: | 2,822.48 for S&P, 1,553.538 for Russell and 3,386.08 for Stoxx
|
| Coupon barriers: | 1,975.736 for S&P, 1,087.477 for Russell and 2,370.256 for Stoxx; 70% of initial levels
|
| Final barrier levels: | 1,975.736 for S&P, 1,087.477 for Russell and 2,370.256 for Stoxx; 70% of initial levels
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.225%
|
| Cusip: | 17326YAU0
|
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