Published on 4/14/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.18 million buffer securities linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 14 – Citigroup Global Markets Holdings Inc. priced $1.18 million of 0% buffer securities due April 9, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 1.5 times any positive return of the laggard underlier up to a maximum of 21%.
If the laggard underlier falls by up to 20%, the payout will be par. Investors will be exposed to declines in the laggard underlier beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Buffer securities
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| Underlying assets: | Russell 2000 index, S&P 500 index
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| Amount: | $1,176,000
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| Maturity: | April 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any positive return of laggard underlier up to a maximum of 21%; par if laggard underlier falls by up to 20%; lose 1% for every 1% decline of laggard underlier beyond 20%
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| Initial levels: | 2,095.44 for Russell, 4,582.64 for S&P
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| Buffer levels: | 1,676.352 for Russell, 3,666.112 for S&P; 80% of initial levels
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| Pricing date: | April 4
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| Settlement date: | April 7
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.55%
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| Cusip: | 17330FCJ8
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