Published on 8/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $255,000 autocallable contingent coupon equity notes on four tech stocks
By Kiku Steinfeld
Chicago, Aug. 24 – Citigroup Global Markets Holdings Inc. priced $255,000 of autocallable contingent coupon equity-linked securities due Jan. 24, 2025 linked to the worst performing of the stocks of Amazon.com, Inc., Microsoft Corp., NVIDIA Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 16.25% if each stock closes at or above its coupon barrier price, 50% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par if each stock closes at or above its initial share price on any monthly valuation date starting July 2022.
If the notes are not called and each stock finishes at or above its final barrier price, 50% of its initial share price, the payout at maturity will be par. Otherwise, investors will be exposed to the full loss of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Amazon.com, Inc., Microsoft Corp., NVIDIA Corp. and Tesla, Inc.
|
| Amount: | $255,000
|
| Maturity: | Jan. 24, 2025
|
| Coupon: | 16.25% annualized rate, payable monthly if each stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if each stock finishes at or above final barrier price; otherwise, investors will be exposed to the full loss of the worst performer
|
| Call: | Automatically at par if each stock closes at or above initial level on any monthly valuation date starting July 2022
|
| Initial share prices: | $3,178.35 for Amazon, $302.65 for Microsoft, $259.03 for NVIDIA, $1,030.51 for Tesla
|
| Coupon barrier prices: | $1,589.175 for Amazon, $151.325 for Microsoft, $129.515 for NVIDIA, $515.255 for Tesla; 50% of initial share prices
|
| Final barrier prices: | $1,589.175 for Amazon, $151.325 for Microsoft, $129.515 for NVIDIA, $515.255 for Tesla; 50% of initial share prices
|
| Pricing date: | Jan. 18, 2022
|
| Settlement date: | Jan. 21. 2022
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17329UZK0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
