Published on 1/31/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $8.32 million buffered performance securities tied to S&P
Chicago, Jan. 31 – Citigroup Global Markets Holdings Inc. priced $8.32 million of 0% buffered performance securities due Nov. 2, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index finishes above its initial level, the payout at maturity will be par plus the index gain, capped at par plus 12.25%.
If the index falls by up to 16.4%, the payout will be par. Otherwise, investors will lose 1% for every 1% index decline beyond 16.4%.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Buffered performance securities
|
| Underlying index: | S&P 500 index
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| Amount: | $8,317,300
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| Maturity: | Nov. 2, 2023
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any index gain, capped at par plus 12.25%; par if index falls by up to 16.4%; otherwise, 1% loss for every 1% index decline beyond 16.4%
|
| Initial level: | 4,131.93
|
| Buffer level: | 83.6% of initial level
|
| Pricing date: | April 29, 2022
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| Settlement date: | May 4, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 17330M791
|
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