Published on 6/14/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3 million equity-linked securities on three stocks
By William Gullotti
Buffalo, N.Y., June 14 – Citigroup Global Markets Holdings Inc. priced $3 million of equity-linked securities due May 25, 2023 tied to the least performing of the shares of Walt Disney Co., Apple Inc. and Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8.2% per year, payable monthly.
If the final level of each asset is at least as great as 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least 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 assets: | Walt Disney Co., Apple Inc., Starbucks Corp.
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Amount: | $3 million
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Maturity: | May 25, 2023
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Coupon: | 8.2%, payable monthly
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Price: | Par
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Payout at maturity: | If each asset finishes at or above barrier, par; otherwise, full exposure to decline of least performing stock
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Initial levels: | $169.27 for Walt Disney, $124.69 for Apple, $109.67 for Starbucks
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Barrier levels: | $118.489 for Walt Disney, $87.283 for Apple, $76.769 for Starbucks; 70% of initial levels
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Pricing date: | May 20
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Settlement date: | May 25
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.4%
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Cusip: | 17329FJG0
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