Published on 7/5/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $540,000 autocallable contingent coupon equity notes on three stocks
Chicago, July 5 – Citigroup Global Markets Holdings Inc. priced $540,000 of autocallable contingent coupon equity-linked securities due Dec. 19, 2025 linked to the worst performing of the stocks of Best Buy Co., Inc., Chevron Corp. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 11.1% if each stock closes at or above its coupon barrier price, 50% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly autocall date after six months.
If the notes are not called and each stock finishes at or above its final barrier price, 50% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the losses of the worst performer.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Best Buy Co., Inc., Chevron Corp. and Meta Platforms, Inc.
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| Amount: | $540,000
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| Maturity: | Dec. 19, 2025
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| Coupon: | 11.1% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon if each stock closes at or above final barrier price; otherwise, exposure to losses of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly autocall date after six months
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| Initial share prices: | $100.22 for Best Buy, $116.64 for Chevron, $334.90 for Meta
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| Coupon barrier prices: | $50.11 for Best Buy, $58.32 for Chevron, $167.45 for Meta; 50% of initial share prices
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| Final barrier prices: | $50.11 for Best Buy, $58.32 for Chevron, $167.45 for Meta; 50% of initial share prices
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| Pricing date: | Dec. 16, 2021
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| Settlement date: | Dec. 21, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17329UWY3
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