Published on 5/23/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $939,000 buffer securities linked to Dow, S&P
By Kiku Steinfeld
Chicago, May 24 – Citigroup Global Markets Holdings Inc. priced $939,000 of 0% buffer securities due Nov. 3, 2022 linked to 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 150% of any positive return of the laggard index, capped at 15%.
If the laggard index falls by up to 10%, the payout will be par.
Investors will be exposed to declines in the laggard index beyond 10%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying index: | S&P 500 index, Dow Jones industrial average
|
| Amount: | $939,000
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| Maturity: | Nov. 3, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any positive return of laggard index, capped at 15%; par if laggard index falls by up to 10%; exposure to any losses of laggard index beyond 10%
|
| Initial levels: | 4,181.17 for S&P, 33,874.85 for Dow
|
| Buffer levels: | 3,763.053 for S&P, 30,487.365 for Dow, 90% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17329FAT1
|
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