Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $2.53 million autocallable equity-linked securities on three stocks
By William Gullotti
Buffalo, N.Y., April 4 – Citigroup Global Markets Holdings Inc. priced $2.53 million of 7.9% autocallable equity-linked securities due Nov. 15, 2022 tied to the worst performing of the common stocks of Microsoft Corp., Moderna, Inc. 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 quarterly.
The notes will be automatically redeemed at par plus the coupon if each stock closes at or above the 95% call level on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its final barrier value, 50% 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 agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Microsoft Corp., Moderna, Inc., Walt Disney Co.
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| Amount: | $2,530,000
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| Maturity: | Nov. 15, 2022
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| Coupon: | 7.9% annual rate, payable quarterly
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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
|
| Call: | At par plus interest if each stock closes at or above its 95% call level on any quarterly observation date
|
| Initial values: | $247.79 for Microsoft, $173.59 for Moderna, $184.25 for Disney
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| Call values: | $235.401 for Microsoft, $164.911 for Moderna, $175.038 for Disney; 95% of initial values
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| Final barrier values: | $123.895 for Microsoft, $86.795 for Moderna, $92.125 for Disney; 50% of initial values
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| Pricing date: | May 5, 2021
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| Settlement date: | May 12, 2021
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.65%
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| Cusip: | 17329FPE8
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