Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million equity-linked securities on three stocks
By William Gullotti
Buffalo, N.Y., April 4 – Citigroup Global Markets Holdings Inc. priced $1 million of equity-linked securities due May 9, 2023 tied to the least performing of the shares of Anheuser-Busch InBev SA/NV, Discovery, Inc. and DraftKings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 13.05% per year, payable monthly.
If the final level of each stock is at least as great as 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least 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: | Equity-linked securities
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| Underlying stocks: | Anheuser-Busch InBev SA/NV, Discovery, Inc., DraftKings Inc.
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| Amount: | $1 million
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| Maturity: | May 9, 2023
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| Coupon: | 13.05%, payable monthly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier, par; otherwise, full exposure to decline of least performing stock
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| Initial levels: | $71.63 for InBev, $36.12 for Discovery, $57.08 for DraftKings
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| Barrier levels: | $42.978 for InBev, $21.672 for Discovery, $34.248 for DraftKings; 60% of initial levels
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| Pricing date: | May 4, 2021
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| Settlement date: | May 7, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17329FPH1
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