Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 autocallable securities on three stocks
Chicago, June 7 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% autocallable securities due Nov. 27, 2024 linked to the lowest performing of the stocks of Apple Inc., AT&T Inc. and UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annualized call premium of 16% if each stock closes at or above its call level on any quarterly observation date after six months. Call level starts at the initial level and will decrease by 3% with each subsequent observation date.
If the notes are not called and each stock finishes at or above its 70% barrier level, the payout at maturity will be par plus 48%.
Otherwise, investors will be fully exposed to the losses of the worst performer, payable in shares or cash at the issuer’s election.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying stocks: | Apple Inc., AT&T Inc. and UnitedHealth Group Inc.
|
| Amount: | $500,000
|
| Maturity: | Nov. 27, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above barrier level, par plus 48%; otherwise, investors will be fully exposed to the losses of the worst performer
|
| Call: | Automatically at par plus an annualized call premium of 16% if each stock closes at or above its call level on any quarterly observation date after six months; call level starts at the initial level and decreases by 3% with each subsequent observation
|
| Initial levels: | $160.55 for Apple, $24.13 for AT&T, $440 for UnitedHealth
|
| Barrier levels: | $112.385 for Apple, $16.891 for AT&T, $308 for UnitedHealth; 70% of initial levels
|
| Equity ratios: | 6.22859 for Apple, 41.44219 for AT&T, 2.27273 for UnitedHealth
|
| Strike date: | Nov. 19, 2021
|
| Pricing date: | Nov. 22, 2021
|
| Settlement date: | Nov. 26, 2021
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 17328NV96
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
