New Issue: Citigroup sells $500,000 geared buffer securities tied to S&P, Dow

By Kiku Steinfeld

Chicago, March 6 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% geared buffer securities due Dec. 28, 2023 linked to the Dow Jones industrial average and the S&P 500 index, 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 1.5 times any gain of the least performing index, capped at 17.05%.

Investors will receive par if the laggard index falls by up to 20% and will lose 1.25% per 1% drop of the laggard index beyond 20%.

Citigroup Global Markets Inc. is the agent.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Geared buffer securities
Underlying indexes:	S&P 500 index and Dow Jones industrial average
Amount:	$500,000
Maturity:	Dec. 28, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any gain of laggard index, capped at 17.05%; par if laggard index declines by up to 20%; 1.25% loss for every 1% decline of laggard index beyond 20%
Initial index level:	4,003.58 for S&P, 34,098.10 for Dow
Buffer level:	3,202.864 for S&P, 27,278.48 for Dow, 80% of initial level
Pricing date:	Nov. 22, 2022
Settlement date:	Nov. 28, 2022
Underwriter:	Citigroup Global Markets Inc.
Fees:	0.6%
Cusip:	17330YKQ2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.