Published on 4/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $403,000 autocallable securities on four stocks
By Wendy Van Sickle
Columbus, Ohio, April 12 – Citigroup Global Markets Holdings Inc. priced $403,000 of 0% autocallable securities due March 31, 2025 linked to the worst performing of the common stocks of DraftKings Inc., Tesla, Inc., Twilio Inc. and Zillow Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each stock closes at or above 90% of its initial level on any semiannual valuation date after a year, the notes will be called at par plus a premium of 50% per year.
If each stock finishes at or above its initial level, the payout at maturity will be par plus the 200% premium for the final valuation date.
If the least-performing stock falls but not below its barrier level, 50% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing stock from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying stocks: | DraftKings Inc., Tesla, Inc., Twilio Inc. and Zillow Group, Inc.
|
| Amount: | $403,000
|
| Maturity: | March 31, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes above initial level, par plus 200% maturity date premium; if least-performing stock declines but finishes at or above final barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing stock from its initial level
|
| Call: | Automatically at par plus a premium of 50% per year if each stock closes at or above 90% of its initial level on any semiannual valuation date after a year
|
| Initial levels: | $57.24 for DraftKings, $556.839 for Tesla, $287.811 for Twilio, $118.872 for Zillow
|
| Barrier levels: | $31.80 for DraftKings, $309.355 for Tesla, $159.895 for Twilio, $66.04 for Zillow, 50% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 17329FBP8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
