Published on 1/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $434,000 barrier digital plus securities on S&P 500
By Kiku Steinfeld
Chicago, Jan. 24 – Citigroup Global Markets Holdings Inc. priced $434,000 of 0% barrier digital plus securities due Aug. 31, 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 11%.
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: | $434,000
|
| Maturity: | Aug. 31, 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 11%; par if index falls by up to 15%; otherwise, full exposure to index’s decline from initial level
|
| Initial level: | 4,470.00
|
| Barrier level: | 3,799.50, 85% of initial level
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.75%
|
| Cusip: | 17329QH52
|
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