Published on 12/10/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.2 million barrier digital plus securities on S&P 500
Chicago, Dec. 10 – Citigroup Global Markets Holdings Inc. priced $1.2 million of 0% barrier digital plus securities due April 2, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index finishes at or above the initial level, the payout at maturity will be par plus the greater of the gain and the fixed return of 15%.
If the index falls but finishes above the 85% barrier level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline from the initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier digital plus securities
|
| Underlying index: | S&P 500
|
| Amount: | $1,200,000
|
| Maturity: | April 2, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to initial level, par plus greater of index return and 15%; par if index falls by up to 15%; otherwise, full exposure to index’s decline from initial level
|
| Initial level: | 3,958.55
|
| Barrier level: | 3,364.768, 85% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 5
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.75%
|
| Cusip: | 17328YS88
|
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