E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 6/8/2021 in the Prospect News Structured Products Daily.

New Issue: Citi prices $218,000 autocallable contingent coupon equity notes on stocks

By Wendy Van Sickle

Columbus, Ohio, June 8 – Citigroup Global Markets Holdings Inc. priced $218,000 of autocallable contingent coupon equity linked securities due May 21, 2024 linked to SAP SE, salesforce.com, inc. and Autodesk, Inc. shares, 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 annualized rate of 8% if each stock closes at or above the barrier price, 60% of the initial price, on the valuation date for that period.

The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly redemption date.

If the notes are not called and the final share price of each stock is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price of the least performing stock, payable in shares of the laggard stock.

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:SAP SE, salesforce.com, inc. and Autodesk, Inc.
Amount:$218,000
Maturity:May 21, 2024
Coupon:8% per year, payable quarterly if closing price of each stock is greater than or equal to barrier price on valuation date for that quarter
Price:Par
Payout at maturity:Par unless any stock finishes below barrier price, in which case full exposure to loss of least-performing stock payable in shares of that stock
Call:At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly redemption date
Initial share prices:$135.23 for SAP, $211.86 for salesforce and $269.72 for Autodesk
Barrier prices:$81.138 for SAP, $127.116 for salesforce and $161.832 for Autodesk; 60% of initial share prices
Pricing date:May 14
Settlement date:May 21
Underwriter:Citigroup Global Markets Inc.
Fees:2.15%
Cusip:17328NUR7

© 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.