Published on 1/27/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.52 million contingent coupon autocalls on five tech stocks
By Kiku Steinfeld
Chicago, Jan. 27 – Citigroup Global Markets Holdings Inc. priced $1.52 million of autocallable contingent coupon equity-linked securities due 25, 2024 linked to the stocks of Alphabet Inc., Amazon.com, Inc., Apple Inc., Facebook, Inc. and Netflix, 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 annual rate of 8.5% if each stock closes at or above its coupon barrier level, 70% 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.
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: | Alphabet Inc., Amazon.com, Inc., Apple Inc., Facebook, Inc. and Netflix, Inc.
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| Amount: | $1,518,000
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| Maturity: | Jan. 25, 2024
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| Coupon: | 8.5% 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
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| Initial levels: | $1,880.07 for Alphabet, $3,263.38 for Amazon, $132.03 for Apple, $267.48 for Facebook, $586.34 for Netflix
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| Coupon barrier levels: | $1,316.049 for Alphabet, $2,284.366 for Amazon, $92.421 for Apple, $187.236 for Facebook, $410.438 for Netflix; 70% of initial levels
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| Barrier levels: | $1,128.042 for Alphabet, $1,958.028 for Amazon, $79.218 for Apple, $160.488 for Facebook, $351.804 for Netflix; 60% of initial levels
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17328Y6H2
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