Published on 11/26/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million 10.65% securities linked to three stocks
By Kiku Steinfeld
Chicago, Nov. 30 – Citigroup Global Markets Holdings Inc. priced $1 million of 10.65% equity-linked securities due May 17, 2022 tied to the least performing of the shares of Goldman Sachs Group, Inc., Lowe’s Cos., Inc. and Clorox Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The coupon is payable monthly.
If the final price of each stock is at least as great as 70% of its initial price, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% loss 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: | Equity-linked securities
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Underlying stocks: | Goldman Sachs Group, Inc., Lowe’s Cos., Inc. and Clorox Co.
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Amount: | $1 million
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Maturity: | May 17, 2022
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Coupon: | 10.65%, payable monthly
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Price: | Par
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Payout at maturity: | If the final price of each stock is at least as great as 70% of its initial price, par; otherwise, investors will lose 1% for each 1% loss of the worst-performing stock
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Initial prices: | $217.47 for Goldman, $198.12 for Clorox and $155.71 for Lowe’s
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Barrier prices: | $152.229 for Goldman, $138.684 for Clorox and $108.997 for Lowe’s, 70% of initial prices
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Pricing date: | Nov. 11
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Settlement date: | Nov. 16
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.3%
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Cusip: | 17328WX37
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