Published on 4/26/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $808,000 autocallable contingent coupon equity notes on four stocks
Chicago, April 26 – Citigroup Global Markets Holdings Inc. priced $808,000 of autocallable contingent coupon equity-linked securities due Oct. 2, 2024 linked to the worst performing of the stocks of Amazon.com, Inc., Apple Inc., Cisco Systems, Inc. and JPMorgan Chase & Co., 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 8.8% 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 quarterly valuation date after six months.
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 plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst 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: | Autocallable contingent coupon equity-linked securities
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Underlying stocks: | Amazon.com, Inc., Apple Inc., Cisco Systems, Inc. and JPMorgan Chase & Co.
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Amount: | $808,000
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Maturity: | Oct. 2, 2024
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Coupon: | 8.8% 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 plus final coupon if each stock finishes 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 quarterly valuation date after six months
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Initial share prices: | $3,405.80 for Amazon, $145.37 for Apple, $56.22 for Cisco, $166.98 for JPMorgan
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Coupon barrier prices: | $2,043.48 for Amazon, $87.222 for Apple, $33.732 for Cisco, $100.188 for JPMorgan; 60% of initial share prices
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Final barrier prices: | $2,043.48 for Amazon, $87.222 for Apple, $33.732 for Cisco, $100.188 for JPMorgan; 60% of initial share prices
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Pricing date: | Sept. 27, 2021
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Settlement date: | Sept. 30, 2021
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17329QXT2
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