Published on 11/17/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.55 million barrier securities on basket of 12 stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 17 – Citigroup Global Markets Holdings Inc. priced $1.55 million of 0% barrier securities due Oct. 25, 2027 linked to an equally weighted basket of 12 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket includes the stocks of Advanced Micro Devices, Inc., Amazon.com, Inc., Apple Inc., Broadcom Inc., DocuSign, Inc., Microsoft Corp., Netflix, Inc., Nvidia Corp., PayPal Holdings, Inc., Peloton Interactive, Inc., Shopify Inc. and Twilio Inc., all with equal weights.
If the final level of the basket is greater than or equal to its initial level, the payout at maturity will be par plus the return of the basket up to a maximum payout of 338% of par.
If the final level of the basket is less than its initial level but greater than or equal to its 70% barrier level, the payout will be par.
If the final level of the basket is less than the 70% barrier level, investors will be fully exposed to the decline of the basket.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
|
| Underlying basket: | Advanced Micro Devices, Inc., Amazon.com, Inc., Apple Inc., Broadcom Inc., DocuSign, Inc., Microsoft Corp., Netflix, Inc., Nvidia Corp., PayPal Holdings, Inc., Peloton Interactive, Inc., Shopify Inc. and Twilio Inc., equal weights
|
| Amount: | $1.55 million
|
| Maturity: | Oct. 25, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level of the basket is greater than or equal to its initial level, par plus the return, capped at 338% of par; if the final level of the basket is less than its initial level but greater than or equal to its 70% barrier level, par; otherwise, full exposure to the decline of basket
|
| Initial levels: | $83.17 for AMAG, $3,272.71 for Amazon, $119.02 for Apple, $378.65 for Broadcom, $234.60 for DocuSign, $219.66 for Microsoft, $530.79 for Netflix, $552.46 for Nvidia, $204.45 for PayPal, $131.33 for Peloton, $1,067.21 for Shopify, $326.47 for Twilio
|
| Barrier level: | 70% of initial level
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17328WRF7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
