Published on 5/11/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $16.2 million trigger PLUS linked to index basket
By Wendy Van Sickle
Columbus, Ohio, May 11 – Citigroup Global Markets Holdings Inc. priced $16.2 million of 0% trigger Performance Leveraged Upside Securities due May 11, 2028 linked to a basket of the S&P 500 index with an 70% weight and the MSCI EAFE index with a 30% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par of $10 plus 150% of the basket return. If the basket declines by 25% or less, the payout will be par. If the basket declines by more than 25%, investors will lose 1% for every 1% that the basket declines from its initial level.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 index (70% weight), MSCI EAFE index (30% weight)
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| Amount: | $16,198,000
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| Maturity: | May 11, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final basket level is greater than initial level, par plus 150% of basket return; if final basket level is less than initial basket level but greater than or equal to trigger level, par; if final basket level is less than trigger level, 1% loss for every 1% that basket declines from initial level
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| Initial index levels: | 4,123.34 for S&P, 1,972.82 for MSCI EAFE
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| Trigger level: | 75% of initial level
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| Pricing date: | May 6
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| Settlement date: | May 11
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| Underwriter: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 3.5%
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| Cusip: | 17330M577
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