Published on 6/20/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $821,000 autocallable contingent coupon equity notes on three stocks
By Kiku Steinfeld
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $821,000 of autocallable contingent coupon equity-linked securities due May 25, 2023linked to the worst performing of the stocks of Amazon.com, Inc., Target Corp. and Wayfair Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 17.75% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any monthly autocall date.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Amazon.com, Inc., Target Corp. and Wayfair Inc.
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| Amount: | $821,000
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| Maturity: | May 25, 2023
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| Coupon: | 17.75% annualized rate, payable monthly if each stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par if each stock closes at or above final barrier price; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly valuation date
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| Initial share prices: | $3,203.08 for Amazon, $225.09 for Target and $310.65 for Wayfair
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| Coupon barrier prices: | $1,921.848 for Amazon, $135.054 for Target and $186.390 for Wayfair; 60% of initial share prices
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| Final barrier prices: | $1,921.848 for Amazon, $135.054 for Target and $186.390 for Wayfair; 60% of initial share prices
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| Pricing date: | May 21
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| Settlement date: | May 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17329FF33
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