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Citigroup plans buffer securities linked to Women’s Leadership index
By Angela McDaniels
Tacoma, Wash., Oct. 7 – Citigroup Global Markets Holdings Inc. plans to price 0% buffer securities due Nov. 2, 2022 linked to the MSCI USA Women’s Leadership index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 200% of the index return, subject to a maximum return that is expected to be 22.5% to 27.5% and will be set at pricing. Investors will receive par if the index declines by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
The index is a price-return index with the goal of tracking the price performance of those companies that exhibit a commitment toward gender diversity among their boards of directors and other leadership positions.
Specifically, the index is designed to provide investors with exposure to U.S.-based companies that satisfy three gender diversity criteria: women in leadership positions, percentage of women on the board of directors and absence of discrimination and workforce diversity controversy.
All of the index components are components of the MSCI USA index, subject to the three filtering criteria above.
As of Sept. 30, the top 10 components were DocuSign, Inc., CenturyLink, Inc., Interpublic Group of Cos. Inc., Hewlett-Packard Co., Verizon Communications Inc., Omnicom Group Inc., CDW Corp., Gartner Inc., Arrow Electronics Inc. and News Corp.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
The notes will price Oct. 28.
The Cusip number is 17327TVH6.
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