Published on 12/19/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $720,000 0% buffer securities linked to Dow, S&P
By Kiku Steinfeld
Chicago, Dec. 19 – Citigroup Global Markets Holdings Inc. priced $720,000 of 0% buffer securities due April 23, 2027 linked to the Dow Jones industrial average and 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 123% of the worst performing index return. Investors will receive par if the worst performing index declines but ends above the 20% buffer and will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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: | $720,000
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Maturity: | April 23, 2027
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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 123% of worst performing index return; par if worst performing index declines but finishes above the 20% buffer; otherwise exposure to decline in worst performing index beyond buffer
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Upside leverage: | 123%
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Cap: | None
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Initial levels: | 35,160.79 for Dow, 4,459.45 for S&P
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Buffer: | 20%
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Buffer levels: | 28,128.632 for Dow, 3,567.56 for S&P, 80% of initial level
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Call: | Non-callable
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Pricing date: | April 20
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Settlement date: | April 25
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.5%
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Cusip: | 17330F6T3
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