Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $970,000 autocallable contingent coupon equity notes on four stocks
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $970,000 of autocallable contingent coupon equity-linked securities due Oct. 28, 2026 linked to the worst performing of the stocks of Amazon.com, Inc., Apple Inc., Facebook, Inc. and Netflix, 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% if each stock closes at or above its coupon barrier price, 70% 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 valuation 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 any final coupon. Otherwise, investors will be fully 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: | Amazon.com, Inc., Apple Inc., Facebook, Inc. and Netflix, Inc.
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| Amount: | $970,000
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| Maturity: | Oct. 28, 2026
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| Coupon: | 11% 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 any final coupon if each stock finishes at or above final barrier price; otherwise, investors will be fully exposed to the losses of the worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date after six months
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| Initial share prices: | $3,376.07 for Amazon, $149.32 for Apple, $315.81 for Facebook, $668.52 for Netflix
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| Coupon barrier values: | $2,363.249 for Amazon, $104.524 for Apple, $221.067 for Facebook, $467.964 for Netflix; 70% of initial share prices
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| Final barrier prices: | $1,688.035 for Amazon, $74.66 for Apple, $157.905 for Facebook, $334.26 for Netflix; 50% of initial share prices
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| Pricing date: | Oct. 26, 2021
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| Settlement date: | Oct. 28, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17329UHY0
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