Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $720,000 autocallable contingent coupon equity notes on Stoxx, ETF
Chicago, June 8 – Citigroup Global Markets Holdings Inc. priced $720,000 of autocallable contingent coupon equity-linked securities due Nov. 29, 2024 linked to the worst performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 6.3% if each underlier closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each underlier closes at or above its initial level, on any quarterly valuation date after six months.
If the notes are not called and each underlier finishes at or above final barrier level, 70% of its initial level, the payout at maturity will be par plus any final coupon. Otherwise, investors will lose 1% for every 1% 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: | Autocallable contingent coupon equity-linked securities
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Underlying assets: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index,
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Amount: | $720,000
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Maturity: | Nov. 29, 2024
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Coupon: | 6.3% annualized rate, payable quarterly if each underlier closes at or above coupon barrier level, on valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if each underlier closes at or above final barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly valuation date after six months
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Initial levels: | $50.39 for ETF, 4,276.25 for Stoxx
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Coupon barrier levels: | $35.273 for ETF, 2,993.375 for Stoxx; 70% of initial levels
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Final buffer levels: | $35.273 for ETF, 2,993.375 for Stoxx; 70% of initial levels
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Pricing date: | Nov. 24, 2021
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Settlement date: | Nov. 30, 2021
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17329UJ51
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