Published on 2/10/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.87 million contingent coupon autocalls on three stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – Citigroup Global Markets Holdings Inc. priced $1.87 million of autocallable contingent coupon equity-linked securities due Feb. 2, 2024 linked to the stocks of Amazon.com, Inc., Target Corp. and Walmart 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 quarterly coupon at an annual rate of 10.4% if each stock closes at or above its coupon barrier level, 60% 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 after six months.
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: | Amazon.com, Inc., Target Corp. and Walmart Inc.
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Amount: | $1,873,000
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Maturity: | Feb. 2, 2024
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Coupon: | 10.4% annualized rate, payable quarterly 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 after six months
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Initial levels: | $3,326.13 for Amazon, $267.48 for Target, $202.02 for Walmart
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Coupon barrier levels: | $1,995.678 for Amazon, $112.62 for Target, $88.506 for Walmart; 60% of initial levels
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Barrier levels: | $1,995.678 for Amazon, $112.62 for Target, $88.506 for Walmart; 60% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Feb. 2
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0%
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Cusip: | 17328YKG8
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