Published on 6/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.2 million 10% equity-linked securities on Apple, Disney
Chicago, June 2 – Citigroup Global Markets Holdings Inc. priced $1.2 million of 10% equity-linked securities due Nov. 18, 2022 tied to the stocks of Apple Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
If each stock’s final level is greater than or equal to its final barrier value, 80.24% of initial value, the payout at maturity will be par plus the final interest payment.
Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial value or the cash equivalent at the issuer’s option.
Citigroup Global Markets Inc. is the agent.
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: | Apple Inc., Walt Disney Co.
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Amount: | $1,200,000
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Maturity: | Nov. 18, 2022
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | If each stock’s final level is greater than or equal to its final barrier value, par plus final coupon; otherwise, investors will receive a number of shares equal to the worst performer’s equity ratio or the cash equivalent at the issuer’s option
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Initial values: | $147.87 for Apple, $162.11 for Disney
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Final barrier values: | $118.651 for Apple, $130.077 for Disney; 80.24% of initial values
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Equity ratio: | 6.7627 for Apple, 6.16865 for Disney; share delivery per security
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Strike date: | Nov. 11, 2021
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Pricing date: | Nov. 15, 2021
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Settlement date: | Nov. 18, 2021
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.52%
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Cusip: | 17328NS58
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