Published on 3/25/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.16 million equity-linked securities on three stocks
By Taylor Fox
New York, March 25 – Citigroup Global Markets Holdings Inc. priced $1.16 million of 10.10% equity-linked securities due March 20, 2024 tied to the least performing of the shares of lululemon athletica inc., Microsoft Corp. and Square, Inc., 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 level of each asset is at least as great as 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% loss of the worst-performing asset.
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 assets: | lululemon athletica inc., Microsoft Corp. and Square, Inc.
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Amount: | $1.16 million
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Maturity: | March 20, 2024
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Coupon: | 10.10%, payable monthly
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Price: | Par
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Payout at maturity: | If the final level of each asset is at least as great as 60% of its initial level, par; otherwise, investors will lose 1% for each 1% loss of the worst-performing asset
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Initial levels: | $306.08 for lululemon, $235.75 for Microsoft and $242.11 for Square
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Barrier levels: | $183.648 for lululemon, $141.45 for Microsoft and $145.266 for Square, 60% of initial levels
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Pricing date: | March 15
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Settlement date: | March 18
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.6%
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Cusip: | 17328YYR9
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