Published on 10/15/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.99 million buffer securities tied to S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 15 – Citigroup Global Markets Holdings Inc. priced $1.99 million of 0% buffer securities due Jan. 26, 2029 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.
If each index finishes above its initial level, the payout at maturity will be par plus 1.07 times the gain of the lesser performing index. If the lesser performing index falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% index decline of the lesser performing index beyond 20%.
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 indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $1,988,000
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Maturity: | Jan. 26, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.07 times any gain of lesser performer; par if index falls by up to 20%; otherwise, 1% loss for every 1% decline if lesser performer beyond 20%
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Initial levels: | 4,411.79 for S&P, 35,061.55 for Dow
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Buffer levels: | 3,529.432 for S&P, 28,049.24 for Dow; 80% of initial levels
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Pricing date: | July 23
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Settlement date: | July 28
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17329QAD2
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