Published on 11/23/2020 in the Prospect News Structured Products Daily.
New Issue: Citi prices $500,000 autocallable equity-linked securities on three stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $500,000 of 11.3% autocallable equity-linked securities due Nov. 19, 2021 tied to the common stocks of Microsoft Corp., Amazon.com, Inc. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if each stock closes at or above the initial level on any monthly observation date.
The payout at maturity will be par unless any stock finishes below its final barrier value, 60% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Microsoft Corp., Amazon.com, Inc. and Boeing Co.
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| Amount: | $500,000
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| Maturity: | Nov. 19, 2021
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| Coupon: | 11.3%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below final barrier value, in which case full exposure to least-performing stock’s decline
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| Call: | At par plus interest if each stock closes at or above its initial level on any monthly observation date starting Dec. 16
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| Initial values: | $217.23 for Microsoft, $3,131.06 for Amazon.com and $202.40 for Boeing
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| Final barrier values: | $130.338 for Microsoft, $1,878.636 for Amazon.com and $121.44 for Boeing, 60% of initial values
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324X5S5
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