Published on 6/6/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $769,000 autocallable equity-linked securities on three stocks
By William Gullotti
Buffalo, N.Y., June 7 – Citigroup Global Markets Holdings Inc. priced $769,000 of 17% autocallable equity-linked securities due May 17, 2022 tied to the worst performing of the common stocks of Tesla, Inc., Carnival Corp. and Square, 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 after three months.
The payout at maturity will be par unless any stock finishes below its final barrier value, 65% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock, payable as cash or shares at the issuer’s discretion.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying stocks: | Tesla, Inc., Carnival Corp., Square, Inc.
|
| Amount: | $769,000
|
| Maturity: | May 17, 2022
|
| Coupon: | 17%, 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 as cash or shares at the issuer’s discretion
|
| Call: | At par plus interest if each stock closes at or above its initial level on any monthly observation date after three months
|
| Initial levels: | $589.89 for Tesla, $24.78 for Carnival, $206.67 for Square
|
| Final barrier levels: | $383.429 for Tesla, $16.107 for Carnival, $134.336 for Square; 65% of initial values
|
| Equity ratios: | 1.69523 for Tesla, 40.35513 for Carnival, 4.83863 for Square
|
| Pricing date: | May 12
|
| Settlement date: | May 17
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.875%
|
| Cusip: | 17328NTB4
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