Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $7.78 million capped airbag gears on S&P 500
By William Gullotti
Buffalo, N.Y., May 16 – Citigroup Global Markets Holdings Inc. priced $7.78 million of 0% capped airbag gears due May 16, 2024 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 return is positive, the payout at maturity will be par of $10 plus 1.5 times the index gain, subject to a maximum payout of par plus 32.75%. Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond 15%.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Capped airbag gears
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| Underlying index: | S&P 500 index
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| Amount: | $7,782,500
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| Maturity: | May 16, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.5 times any index gain, capped at par plus 32.75%; par if index falls by up to 15%; 1.1765% loss for each 1% decline beyond 15%
|
| Initial price: | 3,935.18
|
| Downside threshold: | 3,344.903; 85% of initial level
|
| Pricing date: | May 11
|
| Settlement date: | May 16
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 17330M213
|
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