Published on 1/20/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $756,000 barrier digital plus notes linked to Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Jan. 20 – Citigroup Global Markets Holdings Inc. priced $756,000 of 0% barrier digital plus securities due Jan. 5, 2026 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least-performing index is greater than or equal to its initial level, the payout at maturity will be par plus the greater of the return of the worst performer and the 37.5% digital return.
If the final level of the least-performing index is less than its initial level but greater than or equal to its barrier value, 75% of its initial level, the payout will be par.
If the final level of the least-performing index is less than its barrier value, investors will be exposed to the decline of the least-performing index from its initial level.
The notes will be guaranteed by Citigroup Inc.
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: | Barrier digital plus securities
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| Underlying indexes: | Russell 2000, S&P 500 index and Dow Jones industrial average
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| Amount: | $756,000
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| Maturity: | Jan. 5, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of least-performing index is greater than or equal to initial level, par plus greater of return of worst performer and 37.5% digital return; if final level of least-performing index is less than initial level but greater than or equal to barrier value, par; if final level of least-performing index is less than barrier value, exposure to decline of least-performing index from initial level
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| Initial levels: | 2,248.793 for Russell, 4,778.73 for S&P and 36,398.08 for Dow
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| Barrier values: | 1,686.595 for Russell, 3,584.048 for S&P and 27,298.560 for Dow, or 75% of initial levels
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| Pricing date: | Dec. 30
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| Settlement date: | Jan. 4
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.6%
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| Cusip: | 17329UU58
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