Published on 6/6/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.53 million buffer securities linked to Dow, S&P, Russell
By William Gullotti
Buffalo, N.Y., June 6 – Citigroup Global Markets Holdings Inc. priced $2.53 million of 0% buffer securities due May 30, 2025 linked to the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 143% of any positive return of the laggard index.
If the laggard index falls by up to 10%, the payout will be par. Investors will be exposed to declines in the laggard index beyond 10%.
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 index: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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Amount: | $2,533,000
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Maturity: | May 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 143% of any positive return of laggard index; par if laggard index falls by up to 10%; lose 1% for every 1% decline of laggard index beyond 10%
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Initial levels: | 4,057.84 for S&P, 32,637.19 for Dow, 1,838.238 for Russell
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Buffer levels: | 3,652.056 for S&P, 29,373.471 for Dow, 1,654.414 for Russell; 90% of initial levels
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Pricing date: | May 26
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Settlement date: | June 1
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.2%
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Cusip: | 17330FRP8
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