Published on 4/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $3 million equity-linked securities on three stocks
By Kiku Steinfeld
Chicago, April 4 – Citigroup Global Markets Holdings Inc. priced $3 million of 7.26% equity-linked securities due Sept. 28, 2023 tied to the worst performing of the common stocks of Intel Corp., JPMorgan Chase & Co. 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.
The payout at maturity will be par unless any stock finishes below its final barrier value, 60% of its initial value, in which case investors will be fully exposed to the decline of the least-performing stock.
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: | Equity-linked securities
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| Underlying stocks: | Intel Corp., JPMorgan Chase & Co. and Walt Disney Co.
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| Amount: | $3 million
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| Maturity: | Sept. 28, 2023
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| Coupon: | 7.26%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below final barrier value, in which case full exposure to least-performing stock’s decline
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| Initial levels: | $53.50 for Intel, $155.91 for JPMorgan, $173.65 for Disney
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| Final barrier levels: | $32.100 for Intel, $93.546 for JPMorgan, $104.190 for Disney; 60% of initial values
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17329QYX2
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