Published on 5/19/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $510,000 autocallable equity-linked securities on three stocks
By William Gullotti
Buffalo, N.Y., May 19 – Citigroup Global Markets Holdings Inc. priced $510,000 of 20% autocallable equity-linked securities due April 14, 2022 tied to the worst performing of the common stocks of ANGI Homeservices Inc., Cheesecake Factory Inc. and Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if each stock closes at or above the initial level on any monthly observation date starting July 9.
The payout at maturity will be par unless any stock finishes below its final barrier value, 60% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock, payable in shares of the worst performer or cash at the issuer’s option.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | ANGI Homeservices Inc., Cheesecake Factory Inc. and Peloton Interactive, Inc.
|
| Amount: | $510,000
|
| Maturity: | April 14, 2022
|
| Coupon: | 20%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below final barrier value, in which case full exposure to least-performing stock’s decline, payable either in shares of worst performer or the cash value at the issuer’s option
|
| Call: | At par plus interest if each stock closes at or above its initial level on any monthly observation date starting July 9
|
| Initial values: | $14.88 for ANGI, $58.61 for Cheesecake, $118.60 for Peloton
|
| Final barrier values: | $8.928 for ANGI, $35.166 for Cheesecake, $71.16 for Peloton; 60% of initial values
|
| Pricing date: | April 9
|
| Settlement date: | April 14
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.875%
|
| Cusip: | 17328NPS1
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