Published on 11/5/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $746,000 buffer securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $746,000 of 0% buffer securities due March 12, 2025 linked to the worst performing of the S&P 500 index and the Russell 2000 index, 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 110% of any positive return of the laggard index.
If the laggard index falls by up to 15%, the payout will be par.
Investors will be exposed to declines in the laggard index beyond 15%.
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 indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $746,000
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| Maturity: | March 12, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 110% of any positive return of laggard index; par if laggard index falls by up to 15%; exposure to any losses of laggard index beyond 15%
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| Initial levels: | 4,201.09 for S&P, 1,951.329 for Russell
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| Buffer levels: | 3,570.927 for S&P, 1,658.630 for Russell, 85% of initial levels
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| Pricing date: | March 7, 2022
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| Settlement date: | March 10, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.2%
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| Cusip: | 17330APD8
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