Published on 1/8/2019 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.26 million 8.3% contingent rate autocalls on two indexes
By Susanna Moon
Chicago, Jan. 8 – Citigroup Global Markets Holdings Inc. priced $1.26 million of autocallable contingent coupon equity linked securities due Dec. 26, 2023 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.3% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are called at par if each asset closes at or above its initial level on any determination date after one year.
The payout at maturity will be par unless either underlying asset loses below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Citigroup Global Markets Inc.
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: | Russell 2000 index, S&P 500 index
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| Amount: | $1,255,000
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| Maturity: | Dec. 26, 2023
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| Coupon: | 8.3% annualized, payable quarterly if each asset closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each asset closes at or above trigger level, par; otherwise, 1% loss for each 1% decline of worse performing asset
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| Call: | At par if each asset closes at or above its initial level on any determination date beginning in December 2019
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| Initial levels: | 2,467.42 for S&P, 1,326.002 for Russell
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| Coupon barriers: | 1,727.194 for S&P, 928.201 for Russell, 70% of initial levels
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| Trigger levels: | 1,480.452 for S&P, 795.601 for Russell, 60% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17326YBR6
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