Published on 8/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $540,000 buffer securities linked to Dow, S&P
By Kiku Steinfeld
Chicago, Aug. 24 – Citigroup Global Markets Holdings Inc. priced $540,000 of 0% buffer securities due Jan. 22, 2027 linked to the worst performing of 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 any positive return of the laggard index.
If the laggard index falls by up to 19%, the payout will be par. Investors will be exposed to declines in the laggard index beyond the 19% buffer.
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: | S&P 500 index, Dow Jones industrial average
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| Amount: | $540,000
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| Maturity: | Jan. 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any positive return of laggard index; par if laggard index falls by up to 19%; lose 1% for every 1% decline of laggard index beyond 19%
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| Initial levels: | 4,577.11 for S&P, 35,368.47 for Dow
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| Buffer levels: | 3,707.459 for S&P, 28,648.461 for Dow; 81% of initial levels
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| Pricing date: | Jan. 18, 2022
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| Settlement date: | Jan. 21, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17329UTZ4
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