Published on 7/14/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1 million contingent coupon equity notes on Beyond Meat, salesforce, Zoom
By Wendy Van Sickle
Columbus, Ohio, July 14 – Citigroup Global Markets Holdings Inc. priced $1 million of contingent coupon equity-linked securities due June 1, 2022 linked to Zoom Video Communications, Inc., Beyond Meat, Inc. and salesforce.com, 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 16.25% if each stock closes at or above the barrier price, 65% of the initial price, on the valuation date for that quarter.
If 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 worse performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Contingent coupon equity-linked securities
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| Underlying stocks: | Zoom Video Communications, Inc., Beyond Meat, Inc. and salesforce.com, inc.
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| Amount: | $1 million
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| Maturity: | June 1, 2022
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| Coupon: | 16.25% 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
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| Payout at maturity: | Par plus contingent coupon if final share price for each stock closes above 65% barrier price; otherwise full exposure to decline of worst performing stock
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| Initial share prices: | $321.28 for Zoom, $119.66 for Beyond Meat, $227.71 for salesforce.com
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| Barrier prices: | $208.832 for Zoom, $77.779 for Beyond Meat, $208.832 for salesforce.com, 65% of initial share prices
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.2%
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| Cusip: | 17329FP40
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