Published on 4/6/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million 8.65% equity-linked securities on three stocks
By William Gullotti
Buffalo, N.Y., April 6 – Citigroup Global Markets Holdings Inc. priced $1 million of equity-linked securities due April 5, 2024 tied to the least performing of the shares of Cisco Systems, Inc., Procter & Gamble Co. and salesforce.com, 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 8.65% per year, payable monthly.
If each stock finishes at or above 55% of its initial level, the payout at maturity will be par plus the final fixed coupon.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
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: | Cisco Systems, Inc., Procter & Gamble Co., salesforce.com, inc.
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Amount: | $1 million
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Maturity: | April 5, 2024
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Coupon: | 8.65%, payable monthly
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Price: | Par
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Payout at maturity: | If each stock finishes at or above barrier, par plus final fixed coupon; otherwise, 1% loss for every 1% decline of the worst performer from initial level
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Initial levels: | $56.05 for Cisco, $154.39 for P&G, $214.94 for salesforce
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Barrier levels: | $30.828 for Cisco, $84.915 for P&G, $118.217 for salesforce; 55% of initial levels
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Strike date: | March 30
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Pricing date: | March 31
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Settlement date: | April 5
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.4%
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Cusip: | 17330F5Q0
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