Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.5 million barrier securities tied to three stocks
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $1.5 million of 0% barrier securities due Oct. 30, 2024 linked to the worst performing of the common stocks of Intel Corp., Micron Technology, Inc. and Snap Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worst performing underlying finishes above its initial value, the payout at maturity will be par plus 3.46 times the gain of that underlying.
If the final value of the worst performing underlying is less than or equal to its initial value but greater than or equal to its barrier value, 80% of the initial value, the payout will be par.
If the final value of the worst performing underlying is less than the barrier value, investors will be fully exposed to the decline of that underlying.
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: | Barrier securities
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| Underlyings: | Intel Corp., Micron Technology, Inc. and Snap Inc.
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| Amount: | $1,500,000
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| Maturity: | Oct. 30, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 3.46 times any gain in the worst performing underlying; par if the worst performing underlying finishes at or below its initial value but at or above its barrier value; otherwise, full exposure to the decline of the worst performing underlying
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| Initial values: | $49.46 for Intel, $67.51 for Micron, $55.14 for Snap
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| Barrier values: | $39.568 for Intel, $54.008 for Micron, $44.112 for Snap; 80% of initial values
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| Strike date: | Oct. 22, 2021
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| Pricing date: | Oct. 25, 2021
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| Settlement date: | Oct. 28, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17329UGW5
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