Published on 4/26/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1 million autocallable equity-linked securities on Teladoc, Zoom
Chicago, April 26 – Citigroup Global Markets Holdings Inc. priced $1 million of 8% autocallable equity-linked securities due Oct. 2, 2024 tied to the stocks of Teladoc Health, Inc. and Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if each stock closes at or above the initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any stock finishes below its final barrier value, 50% of its initial value, in which case investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial share price or the cash equivalent.
Citigroup Global Markets Inc. is the agent.
| 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: | Teladoc Health, Inc. and Zoom Video Communications, Inc.
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| Amount: | $1,000,000
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| Maturity: | Oct. 2, 2024
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| Coupon: | 8% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below final barrier value, in which case investors will receive shares of the worst performer equal to that stock’s equity ratio or the cash equivalent at the issuer’s option
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| Call: | At par plus coupon if each stock closes at or above its initial level on any quarterly observation date starting after one year
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| Initial values: | $134.74 for Teladoc, $272.88 for Zoom
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| Final barrier values: | $67.37 for Teladoc, $136.44 for Zoom; 50% of initial values
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| Equity ratios: | 7.4217 for Teladoc, 3.66461 for Zoom
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.1%
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| Cusip: | 17328NZS0
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