Published on 12/26/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $413,000 autocallable contingent coupon equity notes on four stocks
By Taylor Fox
New York, Dec. 30 – Citigroup Global Markets Holdings Inc. priced $413,000 of autocallable contingent coupon equity-linked securities due Dec. 4, 2025 linked to the worst performing of the stocks of Amazon.com, Inc., Alphabet Inc., Netflix, Inc. and Tesla, 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 monthly coupon at an annualized rate of 27.75% if the worst performing stock closes at or above the barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the shares of each stock close at or above the initial share prices on any quarterly valuation date after one year.
If the notes are not called, the payout at maturity will be par unless the worst performing stock finish below the 70% final barrier level, in which case investors will be fully exposed to the losses of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Amazon.com, Inc., Alphabet Inc., Netflix, Inc. and Tesla, Inc.
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| Amount: | $413,000
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| Maturity: | Dec. 4, 2025
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| Coupon: | 27.75% per year, payable monthly if worst performing stock is greater than or equal to barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless at least one stock finishes below final barrier level, in which case, full exposure to losses of worst performer
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any quarterly valuation date after one year
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| Initial share prices: | $1,760.74 for Alphabet, $3,168.04 for Amazon, $490.70 for Netflix and $567.60 for Tesla
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| Coupon barrier levels: | $1,232.518 for Alphabet, $2,217.628 for Amazon, $343.49 for Netflix and $397.32 for Tesla, 70% of initial share prices
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| Barrier prices: | $1,232.518 for Alphabet, $2,217.628 for Amazon, $343.49 for Netflix and $397.32 for Tesla, 70% of initial share prices
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 4
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17328YBA1
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