Published on 7/30/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.4 million callable contingent coupon equity notes on four stocks
By William Gullotti
Buffalo, N.Y., July 30 – Citigroup Global Markets Holdings Inc. priced $1.4 million of callable contingent coupon equity-linked securities due July 31, 2023 linked to the worst performing of Amazon.com, Inc., Costco Wholesale Corp., 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 pay a contingent monthly coupon at an annualized rate of 8% if each stock closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after three months.
If the notes are not redeemed early, the payout will be par unless any stock finishes below 60% of its initial level, in which case investors will lose 1% for every 1% that the least performing stock declines.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Callable contingent coupon equity-linked securities
|
Underlying stocks: | Costco Wholesale Corp., Amazon.com, Inc., Target Corp., Walmart Inc.
|
Amount: | $1,401,000
|
Maturity: | July 31, 2023
|
Contingent coupon: | 8% per year, payable monthly if each stock closes at or above coupon barrier on the valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless any stock finishes below its final barrier level, in which case investors will lose 1% for every 1% that the least performing stock declines
|
Call option: | In whole at par any monthly valuation date after three months
|
Initial levels: | $3,699.82 for Amazon, $423.23 for Costco, $260.86 for Target, $142.63 for PayPal
|
Coupon barrier levels: | $2,589.874 for Amazon, $296.261 for Costco, $182.602 for Target, $99.841 for PayPal; 70% of initial levels
|
Final barrier levels: | $2,219.892 for Amazon, $253.938 for Costco, $156.516 for Target, $85.578 for PayPal; 60% of initial levels
|
Pricing date: | July 26
|
Settlement date: | July 29
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 0.6%
|
Cusip: | 17329QFX3
|
|
© 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.