Published on 4/20/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $27.4 million equity-linked notes on 3M
By Wendy Van Sickle
Columbus, Ohio, April 20 – Citigroup Global Markets Holdings Inc. priced $27.4 million of 0% equity-linked notes due April 20, 2028 linked to the common stock of 3M Co., according to 424B2 filings with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be the greater of par and the alternative settlement amount. The alternative settlement amount is par times the final share price divided by the threshold price, 122.65% of the initial price.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Equity-linked notes
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Underlying stock: | 3M Co. (NYSE: MMM)
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Amount: | $27,399,000
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Maturity: | April 20, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Greater of (i) par and (ii) par times the final share price divided by the threshold price
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Initial price: | $196.8217 (not the VWAP or closing price of the stock on the pricing date)
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Threshold price: | $241.4018, 122.65% of initial price
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Final price: | VWAP of the stock on April 12, 2028
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Pricing date: | April 12
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Settlement date: | April 19
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | None
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Cusip: | 17329FFH2
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