Published on 12/15/2021 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.15 million dual directional barrier securities on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 15 – Citigroup Global Markets Holdings Inc. priced $1.15 million of 0% dual directional barrier securities due Aug. 28, 2026 linked to the S&P 500 index, the Nasdaq-100 and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index finishes at or above the initial level, the payout at maturity will be par plus 1.35 times the return of the laggard index.
If the laggard index falls but finishes at or above the 70% barrier level, the payout at maturity will be par plus the absolute value of the laggard index return.
Otherwise, investors will lose 1% for every 1% that the laggard index declines from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional barrier securities
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $1,145,000
|
| Maturity: | Aug. 28, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If laggard index finishes at or above the initial level, par plus 1.35 times its return; if laggard index falls but finishes at or above barrier level, par plus the absolute value of its return; otherwise, 1% loss for each 1% decline of laggard index
|
| Initial index levels: | 4,496.19 for S&P, 2,239.269 for Russell, 15,368.92 for Nasdaq
|
| Barrier levels: | 3,147.333 for S&P, 1,567.488 for Russell, 10,758.244 for Nasdaq, 70% of initial levels
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.65%
|
| Cusip: | 17329QFD7
|
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