Published on 11/22/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $700,000 equity-linked securities on three stocks
By Taylor Fox
New York, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $700,000 of 8% equity-linked securities due May 20, 2021 tied to the least performing of the shares of Costco Wholesale Corp., Taiwan Semiconductor Manufacturing Co. Ltd. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The coupon is payable monthly.
If the final level of each stock is at least as great as 72% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% loss 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: | Equity-linked securities
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Underlying stocks: | Costco Wholesale Corp., Taiwan Semiconductor Manufacturing Co. Ltd. and Target Corp.
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Amount: | $700,000
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Maturity: | May 20, 2021
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Coupon: | 8%, payable monthly
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Price: | Par
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Payout at maturity: | If the final level of each stock is at least as great as 72% of its initial level, par; otherwise, investors will lose 1% for each 1% loss of the worst-performing stock
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Initial levels: | $381.92 for Costco, $95.71 for Taiwan and $163.04 for Target
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Barrier levels: | $274.982 for Costco, $68.911 for Taiwan and $117.389 for Target, 72% of initial levels
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Pricing date: | Nov. 17
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Settlement date: | Nov. 20
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17324X5Z9
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