Published on 9/8/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.09 million autocallable contingent coupon equity notes on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 8 – Citigroup Global Markets Holdings Inc. priced $2.09 million of autocallable contingent coupon equity-linked securities due June 29, 2023 linked to the worst performing of the stocks of Advanced Micro Devices, Inc., Appian Corp. and Dick’s Sporting Goods, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 25.65% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly autocall date.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Advanced Micro Devices, Inc., Appian Corp., Dick’s Sporting Goods, Inc.
|
| Amount: | $2,085,000
|
| Maturity: | June 29, 2023
|
| Coupon: | 25.65% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon if each stock closes at or above final barrier price; otherwise, investors will receive shares of worst performer equal to that stock’s equity ratio
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
|
| Initial share prices: | $85.62 for AMD, $139.51 for Appian, $101.21 for Dick’s
|
| Coupon barrier prices: | $51.372 for AMD, $83.706 for Appian, $60.726 for Dick’s; 60% of initial share prices
|
| Final barrier prices: | $51.372 for AMD, $83.706 for Appian, $60.726 for Dick’s; 60% of initial share prices
|
| Equity ratio: | 11.67951 for AMD, 7.16794 for Appian, 9.88045 for Dick’s; shares per security
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328NUD8
|
|
|
© 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.
