Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.57 million buffered index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., April 4 – Citigroup Global Markets Holdings Inc. priced $2.57 million of 0% buffered index-linked notes due June 15, 2022 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The payout at maturity will be par plus 1.3 times any index gain, up to the maximum settlement amount of $1,123.50 per $1,000 principal amount of notes.
If the index falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1.1111% for every 1% decline beyond 10%.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $2,570,000
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Maturity: | June 15, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.3 times any index gain, capped $1,123.50 per $1,000 principal amount of notes; if index falls by up to 10%, par; 1.1111% loss for every 1% decline beyond 10%
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Initial index level: | 4,167.59
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Buffer level: | 90% of initial level
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Pricing date: | May 5, 2021
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Settlement date: | May 12, 2021
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Agent: | Citigroup Global Markets Inc.
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Fees: | None
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Cusip: | 17329FJ96
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