Published on 5/20/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.4 million autocallable equity-linked notes on three stocks
By Kiku Steinfeld
Chicago, May 20 – Citigroup Global Markets Holdings Inc. priced $1.4 million of autocallable equity-linked securities due Oct. 18, 2024 tied to Advanced Micro Devices, Inc., ConocoPhillips and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 10.65% per year, payable quarterly.
After six months, the notes will be automatically redeemed at par plus interest if the worst-performing stock closes greater than or equal to its initial price on any quarterly observation date.
If the notes are not called and the final price of each stock is at least 50% of its initial price, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performing stock.
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: | Autocallable equity-linked securities
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| Underlying stocks: | Advanced Micro Devices, Inc., ConocoPhillips and Tesla, Inc.
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| Amount: | $1,404,000
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| Maturity: | Oct. 18, 2024
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| Coupon: | 10.65% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is greater than or equal to final barrier level; otherwise, 1% loss for each 1% decline of the worst performer
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| Call: | After six months, par plus interest if the worst-performing stock closes at or above its initial price on any quarterly observation date
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| Initial prices: | $112.12 for AMD, $74.14 for Conoco, $843.03 for Tesla
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| Final barrier values: | $56.06 for AMD, $37.070 for Conoco, $421.515 for Tesla; 50% of initial prices
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| Pricing date: | Oct. 15, 2021
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| Settlement date: | Oct. 20, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17329UHT1
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