Published on 4/20/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.13 million autocallable equity-linked securities on three stocks
By Kiku Steinfeld
Chicago, April 20 – Citigroup Global Markets Holdings Inc. priced $1.13 million of 20% autocallable equity-linked securities due Sept. 29, 2022 tied to the worst performing of the common stocks of Affirm Holdings, Inc., fuboTV Inc. and Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if each stock closes at or above the initial level on any monthly observation date after three months.
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, payable as cash or shares at the issuer’s discretion.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Affirm Holdings, Inc., fuboTV Inc. and Twitter, Inc.
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| Amount: | $1,132,000
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| Maturity: | Sept. 29, 2022
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| Coupon: | 20%, 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, payable as cash or shares at the issuer’s discretion
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| Call: | At par plus interest if each stock closes at or above its initial level on any monthly observation date after three months
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| Initial levels: | $123.73 for Affirm, $25.42 for fuboTV, $67.22 for Twitter
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| Final barrier levels: | $74.238 for Affirm, $15.252 for fuboTV, $40.332 for Twitter; 60% of initial values
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| Equity ratios: | 8.08211 for Affirm, 39.33910 for fuboTV, 14.87652 for Twitter
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| Pricing date: | Sept. 24, 2021
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| Settlement date: | Sept. 29, 2021
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.875%
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| Cusip: | 17328NZA9
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