Published on 1/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $682,000 dual directional barrier securities on Nasdaq, S&P, Dow
By William Gullotti
Buffalo, N.Y., Jan. 27 – Citigroup Global Markets Holdings Inc. priced $682,000 of 0% dual directional barrier securities due Sept. 3, 2026 linked to the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index’s final level is greater than its initial level, the payout at maturity will be par plus 142.7% of the least performing index’s return, subject to a maximum payout of par plus 60%.
If the least performing index’s final level is less than or equal to its initial level but greater than or equal to its final barrier level, 75% of its initial level, the payout will be par plus 50% of the absolute value of that index’s return.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by Citigroup Inc.
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, Dow Jones industrial average
|
| Amount: | $682,000
|
| Maturity: | Sept. 3, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index’s final level is greater than or equal to initial level, par plus 142.7% of the least performing index’s return, subject to 60% cap; if the least performing index’s final level is less than initial level but greater than or equal to final barrier level, par plus 50% of the absolute value of that index’s return; otherwise, 1% loss for every 1% that the worst performer declines from initial level
|
| Initial levels: | 35,399.84 for Dow, 4,528.79 for S&P, 15,605.09 for Nasdaq
|
| Final barrier levels: | 24,779.888 for Dow, 3,170.153 for S&P, 10,923.563 for Nasdaq; 75% of initial index level
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17329QN30
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
