Published on 5/26/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $416,000 7% single observation ELKS linked to Cigna
Chicago, May 26 – Citigroup Global Markets Holdings Inc. priced $416,000 of 7% single observation Equity Linked Securities due Nov. 8, 2022 linked to the common stock of Cigna Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The payout at maturity will be par unless the stock finishes below the downside threshold price, 80% of the initial share price, in which case the payout will be a number of Cigna shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
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: | Single observation Equity Linked Securities
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| Underlying stock: | Cigna Corp.
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| Amount: | $416,000
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| Maturity: | Nov. 8, 2022
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| Coupon: | 7% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | If stock finishes below downside threshold price, 4.5819 Cigna shares; otherwise, par in cash
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| Initial share price: | $218.25
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| Trigger price: | $174.6, 80% of initial share price
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| Pricing date: | Nov. 3, 2021
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| Settlement date: | Nov. 8, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NF45
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