Published on 4/26/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3 million equity-linked securities on three stocks
By Wendy Van Sickle
Columbus, Ohio, April 26 – Citigroup Global Markets Holdings Inc. priced $3 million of equity-linked securities due April 6, 2023 tied to the least performing of the shares of Lowe’s Cos., Inc., Microsoft Corp. and Procter & Gamble Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8.25% per year, payable monthly.
If the final level of each asset is at least as great as 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least 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: | Equity-linked securities
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Underlying assets: | Lowe’s Cos., Inc., Microsoft Corp. and Procter & Gamble Co.
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Amount: | $3 million
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Maturity: | April 6, 2023
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Coupon: | 8.25%, payable monthly
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Price: | Par
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Payout at maturity: | If each asset finishes at or above barrier, par; otherwise, full exposure to decline of least performing stock
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Initial levels: | $190.18 for Lowe’s, $235.77 for Microsoft, $135.43 for Procter
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Barrier levels: | $133.126 for Lowe’s, $165.039 for Microsoft, $94.801 for Procter; 70% of initial levels
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Pricing date: | April 1
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Settlement date: | April 7
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.4%
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Cusip: | 17329F3S1
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