Published on 9/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $315,000 dual directional buffer securities on Nasdaq, Dow
By Kiku Steinfeld
Chicago, Sept. 22 – Citigroup Global Markets Holdings Inc. priced $315,000 of 0% dual directional buffer securities due Feb. 5, 2025 linked to the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index’s final level is greater than its initial level, the payout at maturity will be par plus the least performing index’s return, capped at 40%.
If the least performing index’s final level is less than or equal to its initial level but greater than or equal to its final buffer level, 85% of its initial level, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will lose 1% for every 1% that the worst performer declines beyond 15%.
The notes are 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: | Dual directional buffer securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $315,000
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| Maturity: | Feb. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index’s final level is greater than or equal to initial level, par plus the least performing index’s return, capped at 40%; if the least performing index’s final level is less than initial level but greater than or equal to final buffer level, par plus absolute value of that index’s return; otherwise, 1% loss for every 1% that the worst performer declines beyond 15%
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| Initial levels: | 35,131.86 for Dow, 14,930.05 for Nasdaq
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| Final buffer levels: | 29,862.081 for Dow, 12,690.543 for Nasdaq; 85% of initial index level
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.2%
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| Cusip: | 17329UNR8
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