Published on 9/9/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $11.01 million buffer securities linked to Dow, S&P
By William Gullotti
Buffalo, N.Y., Sept. 9 – Citigroup Global Markets Holdings Inc. priced $11.01 million of 0% buffer securities due March 5, 2024 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout at maturity will be par plus that index return, subject to a maximum return of par plus 27%.
Investors will receive par if the worst performing index declines up to 20% and will lose 1% for every 1% that the worst performing index declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
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 indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $11,005,000
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Maturity: | March 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus that index return, subject to a maximum return of par plus 27%; par if worst performing index declines up to 20%; otherwise, investors will lose 1% for every 1% decline beyond 20%
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Initial levels: | 31,510.43 for Dow Jones industrial average, 3,955.00 for S&P 500 index
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Buffer: | 20%
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Cap: | 27%
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Buffer levels: | 25,208.344 for Dow Jones industrial average, 3,164.00 for S&P 500 index, 80% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 6
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.15%
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Cusip: | 17330PY86
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