Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.43 million 7% single observation ELKS on Morgan Stanley
Chicago, June 23 – Citigroup Global Markets Holdings Inc. priced $1.43 million of 7% single observation Equity Linked Securities due Dec. 15, 2022 linked to Morgan Stanley shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The payout at maturity will be par in cash unless the stock finishes below the downside threshold level, 80% of the initial share price, in which case the payout will be a number of Morgan Stanley shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
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: | Single observation Equity Linked Securities
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| Underlying stock: | Morgan Stanley (NYSE: MS)
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| Amount: | $1,434,000
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| Maturity: | Dec. 15, 2022
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| Coupon: | 7%, payable monthly
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| Price: | Par
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| Payout at maturity: | If stock finishes below downside threshold price, 10.1595 Morgan Stanley shares; otherwise, par in cash
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| Initial level: | $98.43
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| Downside threshold: | $78.744, 80% of initial price
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| Pricing date: | Dec. 10, 2021
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| Settlement date: | Dec. 15, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17328NU30
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