Published on 10/31/2020 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million equity-linked securities on three stocks
By Taylor Fox
New York, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $1 million of 14% equity-linked securities due Oct. 5, 2022 tied to the least performing of the shares of Charles Schwab Corp., JPMorgan Chase &Co. and Roku, 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: | Charles Schwab Corp., JPMorgan Chase &Co. and Roku, Inc.
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Amount: | $1 million
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Maturity: | Oct. 5, 2022
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Coupon: | 14%, 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: | $35.78 for Charles Schwab, $95.35 for JPMorgan and $187.87 for Roku
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Barrier levels: | $21.468 for Charles Schwab, $57.21 for JPMorgan and $112.722 for Roku, 60% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.4%
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Cusip: | 17328WZ76
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