Published on 6/30/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $800,000 contingent coupon autocalls on four stocks
By Wendy Van Sickle
Columbus, Ohio, June 30 – Citigroup Global Markets Holdings Inc. priced $800,000 of autocallable contingent coupon equity-linked securities due June 26, 2024 linked to the stocks of Advanced Micro Devices, Inc., D.R. Horton, Inc., Generac Holdings Inc. and Nvidia Corp., 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 annual rate of 15.8% if each stock closes at or above its coupon barrier level, 65% of its initial level, on the determination 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 level on any quarterly call observation date after six months.
If the notes are not called and the worst performing stock finishes below its 60% barrier level, investors will lose 1% for each 1% decline of the worst performing stock.
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: | Advanced Micro Devices, Inc., D.R. Horton, Inc., Generac Holdings Inc. and Nvidia Corp.
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| Amount: | $800,000
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| Maturity: | June 26, 2024
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| Coupon: | 15.8% annualized rate, payable monthly if each stock closes at or above coupon barrier on determination date for period
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| Price: | Par
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| Payout at maturity: | Par if each stock finishes at or above barrier level; otherwise, 1% for each 1% decline of least performing stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $83.82 for Advanced Micro Devices, $89.66 for D.R. Horton, $406.12 for Generac, $762.29 for Nvidia
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| Coupon barrier levels: | $54.483 for Advanced Micro Devices, $58.279 for D.R. Horton, $263.978 for Generac, $495.489 for Nvidia; 65% of initial levels
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| Barrier levels: | $50.292 for Advanced Micro Devices, $53.796 for D.R. Horton, $243.672 for Generac, $457.374 for Nvidia; 60% of initial levels
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| Pricing date: | June 23
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| Settlement date: | June 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17329FZA5
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