Published on 12/9/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.37 million contingent coupon autocallables on stocks
By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – Citigroup Global Markets Holdings Inc. priced $2.37 million of autocallable contingent coupon equity-linked securities due Nov. 29, 2023 linked to the least performing of the stocks of Advanced Micro Devices, Inc., Amazon.com, Inc., Boeing Co. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter the notes pay a contingent coupon at the annual rate of 20.75% per year if the least-performing stock closes at or above its coupon barrier value, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par if the least-performing stock closes at or above its initial price on any quarterly call valuation date.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 60% of its initial share price, in which case investors will have full exposure to the loss of the worst performing underlying asset.
The notes are guaranteed by Citigroup Inc.
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: | Advanced Micro Devices, Inc., Amazon.com, Inc., Boeing Co. and Netflix, Inc.
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| Amount: | $2,368,000
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| Maturity: | Nov. 29, 2023
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| Coupon: | 20.75% per year, payable quarterly if least-performing stock closes at or above coupon barrier value on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case full exposure to loss of worst performing stock
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| Call: | Automatically at par if the least-performing stock closes at or above its initial price on any quarterly call valuation date
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| Initial share prices: | $86.71 for Advanced Micro, $3,185.07 for Amazon.com, $485.00 for Netflix, $217.61 for Boeing
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| Coupon barriers: | $52.026 for Advanced Micro, $1,911.042 for Amazon.com, $291.00 for Netflix, $130.566 for Boeing, or 60% of initial share prices
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| Final barrier value: | $52.026 for Advanced Micro, $1,911.042 for Amazon.com, $291.00 for Netflix, $130.566 for Boeing, or 60% of initial share prices
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17324X5L0
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