Published on 5/25/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million buffer securities linked to Dow, S&P
Chicago, May 25 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% buffer securities due Nov. 2, 2026 linked to the worst performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 107% of any positive return of the laggard index.
If the laggard index falls by up to 20%, the payout will be par. Investors will be exposed to declines in the laggard index beyond the 20% buffer.
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: | Buffer securities
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| Underlying index: | S&P 500 index, Dow Jones industrial average
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| Amount: | $1,000,000
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| Maturity: | Nov. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 107% of any positive return of laggard index; par if laggard index falls by up to 20%; lose 1% for every 1% decline of laggard index beyond 20%
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| Initial levels: | 4,596.42 for S&P, 35,730.48 for Dow
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| Buffer levels: | 3,677.136 for S&P, 28,584.384 for Dow; 80% of initial levels
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| Pricing date: | Oct. 28, 2021
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| Settlement date: | Nov. 2, 2021
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
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| Cusip: | 17329U6S5
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