The Hilbert Conditional Quarterly Autocall has a maximum term of 10 years and offers a potential quarterly income of 2% subject to the performance of the underlying indices.
Investment Term
Up to 10 years. However, the Plan can mature from the end of year 1, if certain criteria are met (see “Early Maturity” below).
Underlying assets
FTSE 100 Index and the EURO STOXX 50 Index.
Counterparty
Citigroup Global Markets Funding Luxembourg S.C.A.(‘Citigroup’)
Administrator and Custodian
Hilbert Investment Solutions
Income
You will receive an income payment of 2% for each Quarterly Measurement Date that the Closing Levels of both Underlying Assets are at least equal to 80% of their Opening Level. The income is paid gross.
If the Closing Level of one or both of the Underlying Assets is below 80% of their Opening Level on a Quarterly Measurement Date, no income will be paid for that quarter. Once the Plan has matured, no further income will be paid.
Early maturity
The Plan will mature early if the Closing Levels of both Underlying Asset is at least equal to 105% of their Opening Levels on any Quarterly Measurement Date from the end of year 1. If this happens, you will receive the income payment for that quarter, and the repayment of your original investment in full at this point.
Repayment of your investment if no early maturity
If the Final Level of either of the Underlying Assets is more than 35% below its Opening Level, you will receive back significantly less than your original investment. The amount of your investment you receive back will be reduced by the same percentage amount that the worst performing Underlying Asset has fallen in value from the Start Date.
Expected tax treatment
Income Tax
Other Key Information
English law governed notes
Citigroup Global Markets Limited (http://www.citigroup.com/). The product issuer is Citigroup Global Markets Funding Luxembourg S.C.A. with a guarantee by Citigroup Global Markets Limited.
Call +44 20 7986 2121 for more information.
Authorised by the U.K. Prudential Regulation Authority and regulated by the U.K. Financial Conduct Authority and U.K. Prudential Regulation Authority
The product is designed to provide a return in the form of (1) conditional interest payments and (2) a cash payment on termination of the product. The timing and amount of these payments will depend on the performance of the underlyings. The product has a fixed term and will terminate on the maturity date, unless terminated early. If, at maturity, the final reference level of the worst performing underlying has fallen below its barrier level, the product may return less than the product notional amount or even zero.
Early termination following an autocall: The product will terminate prior to the maturity date if, on any autocall observation date, the reference level of the worst performing underlying is at or above its autocall barrier level. On any such early termination, you will on the immediately following autocall payment date receive, in addition to any final interest payment, a cash payment equal to the autocall payment of GBP 1.00. No interest payments will be made on any date after such autocall payment date.
Interest: If the product has not terminated early, on each interest payment date you will receive an interest payment of GBP 0.02 if the reference level of the worst performing underlying is at or above its interest barrier level on the immediately preceding interest observation date. If this condition is not met, you will receive no interest payment on such interest payment date.
Termination on the maturity date: If the product has not terminated early, on the maturity date you will receive:
1. if the final reference level of the worst performing underlying is at or above its barrier level, a cash payment equal to GBP 1.00; or
2. if the final reference level of the worst performing underlying is below its barrier level, a cash payment directly linked to the performance of the worst performing underlying. The cash payment will equal (i) the product notional amount multiplied by (ii) (A) the final reference level of the worst performing underlying divided by (B) its strike level.
Under the product terms, certain dates specified below will be adjusted if the respective date is either not a business day or not a trading day (as applicable). Any adjustments may affect the return, if any, you receive.
The product terms also provide that if certain exceptional events occur (1) adjustments may be made to the product and/or (2) the product issuer may terminate the product early. These events are specified in the product terms and principally relate to the underlying, the product and the product issuer. The return (if any) you receive on such early termination is likely to be different from the scenarios described above and may be less than the amount you invested.
When purchasing this product during its lifetime, the purchase price does not include accrued interest on a pro rata basis.
The product is intended to be offered to retail investors who fulfil all of the criteria below:
♦ they have the ability to make an informed investment decision through sufficient knowledge and understanding of the product and its specific risks and rewards, with experience of investing in and/or holding a number of similar products providing a similar market exposure;
♦ they seek income, expect the movement in the underlying to perform in a way that generates a favourable return, have an investment horizon of the recommended holding period specified below and understand that the product may terminate early;
♦ they accept the risk that the issuer or guarantor could fail to pay or perform its obligations under the product and they are able to bear a total loss of their investment; and
♦ they are willing to accept a level of risk to achieve potential returns that is consistent with the summary risk indicator shown on the Key Information Document.
The product is not intended to be offered to retail clients who do not fulfil these criteria.
Please ensure that you have read and understood the important documents contained on this page.
To gain a full understanding of this plan it is important that you read the brochure and key information document carefully, including the product risks and terms and conditions. If you are unsure about any aspect of this investment product, please seek financial advice to ensure the plan suits your requirements and overall investment planning.
Moneyworld does not offer investment advice. The information in this brochure does not constitute tax, legal or investment advice. Please read our terms and conditions before investing
How do I invest?
Application Fee
Our fee is just 0.5%. This can be deducted from the investment or paid by enclosing a cheque to Moneyworld.
Important Plan Dates
Closing Date (Cheques): 17 March 2023
Closing Date (Bank Transfers): 23 March 2023
ISA Transfer closing date: 17 March 2023
Important Documents
> Plan Brochure – Conditional Quarterly Autocall – Issue 16
> Direct, ISA and ISA Transfer Application Form
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Could the Hilbert Conditional Quarterly Autocall be right for me?
If you are able to answer ‘yes’ to all of the following then an investment in the Plan may be right for you.
♦ Are you looking for an income from your investment?
♦ Are you comfortable that your income is not being guaranteed?.
♦ Are you comfortable putting some or all of your investment at risk (i.e. you could lose some money)?
♦ Are you comfortable with leaving your money invested for up to 10 years?
♦ Do you have some existing knowledge of equity based investment? For example have you invested in similar products in the past and do you have a general interest in financial markets?
If you are unsure as to the suitability of this product then we recommend you seek financial advice.