Published on 9/8/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2 million 14.5% equity-linked securities on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 8 – Citigroup Global Markets Holdings Inc. priced $2 million of equity-linked securities due Sept. 8, 2023 tied to the least performing of the shares of Moderna, Inc., DraftKings Inc. and Southwest Airlines 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 14.5% per year, payable monthly.
If each stock finishes at or above 55% 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 from its initial level.
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: | Moderna, Inc., DraftKings Inc., Southwest Airlines Co.
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Amount: | $2 million
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Maturity: | Sept. 8, 2023
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Coupon: | 14.5%, payable monthly
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Price: | Par
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Payout at maturity: | If each stock finishes at or above barrier, par; otherwise, full exposure to decline of least performing stock from its initial level
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Initial levels: | $389.94 for Moderna, $60.21 for DraftKings, $49.55 for Southwest
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Barrier levels: | $214.467 for Moderna, $33.116 for DraftKings, $27.253 for Southwest; 55% of initial levels
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Strike date: | Sept. 1
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Pricing date: | Sept. 2
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Settlement date: | Sept. 8
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.4%
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Cusip: | 17329QTR1
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