Published on 5/19/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million 9.6% equity-linked securities on Alphabet, Apple, Disney
By William Gullotti
Buffalo, N.Y., May 19 – Citigroup Global Markets Holdings Inc. priced $1 million of equity-linked securities due May 16, 2025 tied to the least performing of the shares of Alphabet Inc., Apple Inc., and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 9.6% per year, payable monthly.
If each stock finishes at or above 50% of its initial level, the payout at maturity will be par plus the final fixed coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
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 assets: | Alphabet Inc., Apple Inc., Walt Disney Co.
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Amount: | $1 million
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Maturity: | May 16, 2025
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Coupon: | 9.6%, payable monthly
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Price: | Par
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Payout at maturity: | If each stock finishes at or above barrier, par plus final fixed coupon; otherwise, full exposure to decline of worst performer from its initial level
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Initial levels: | $2,256.88 for Alphabet, $142.56 for Apple, $104.31 for Disney
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Barrier levels: | $1,128.44 for Alphabet, $71.28 for Apple, $52.155 for Disney; 50% of initial levels
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Strike date: | May 12
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Pricing date: | May 13
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Settlement date: | May 18
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.6%
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Cusip: | 17330FWQ0
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