Published on 4/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $500,000 autocallable equity-linked securities on three stocks
By Kiku Steinfeld
Chicago, April 4 – Citigroup Global Markets Holdings Inc. priced $500,000 of 8.45% autocallable equity-linked securities due Sept. 29, 2022 tied to the worst performing of the stocks of Snap Inc., Amazon.com, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable quarterly.
The notes will be automatically redeemed at par plus the coupon if each stock closes at or above the initial level on either March 22, 2022 or June 22, 2022.
The payout at maturity will be par unless any stock finishes below its final barrier value, 75% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock, payable as cash or shares at the issuer’s discretion.
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 equity-linked securities
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| Underlying stocks: | Snap Inc., Amazon.com, Inc. and Nvidia Corp.
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| Amount: | $500,000
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| Maturity: | Sept. 29, 2022
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| Coupon: | 8.45%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below final barrier value, in which case full exposure to least-performing stock’s decline, payable as cash or shares at the issuer’s discretion
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| Call: | At par plus interest if each stock closes at or above its initial level on either March 22, 2022 or June 22, 2022
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| Initial levels: | $3,343.63for Amazon, $212.46 for Nvidia, $76.09 for Snap
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| Final barrier levels: | $2,507.723for Amazon, $159.345 for Nvidia, $57.068 for Snap; 75% of initial values
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| Equity ratios: | 0.39877 for Amazon, 6.27569 for Nvidia, 17.52296 for Snap
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.8%
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| Cusip: | 17328NF37
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