Published on 6/20/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $974,000 buffer securities linked to Dow, S&P
By Kiku Steinfeld
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $974,000 of 0% buffer securities due Nov. 27, 2028 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 108% 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 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
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| Underlying index: | S&P 500 index, Dow Jones industrial average
|
| Amount: | $974,000
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| Maturity: | Nov. 27, 2028
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 108% of any positive return of laggard index; par if laggard index falls by up to 20%; exposure to any losses of laggard index beyond 20%
|
| Initial levels: | 4,155.86 for S&P, 34,207.84 for Dow
|
| Buffer levels: | 3,324.688 for S&P, 27,366.272 for Dow, 80% of initial levels
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17329FJH8
|
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