Published on 5/19/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.37 million dual directional barrier securities on Dow, Nasdaq
By William Gullotti
Buffalo, N.Y., May 19 – Citigroup Global Markets Holdings Inc. priced $2.37 million of 0% dual directional barrier securities due May 16, 2024 linked to the Nasdaq-100 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.
If all indexes finish at or above initial levels, the payout at maturity will be par plus 150% of the return of the least performing index, subject to a maximum payout of par plus 33.05%.
If the worst performing index falls by up to 20%, the payout will be par plus the absolute value of the return of that index.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
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: | Dual directional barrier securities
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $2,365,000
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| Maturity: | May 16, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 150% of the return of the least performing index capped at 33.05%; if the worst performing index falls by up to barrier level, par plus absolute value of the return of that index; otherwise, full exposure to decline of the worst performing index from its initial level
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| Initial levels: | 32,196.66 for Dow, 12,387.4 for Nasdaq
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| Barrier levels: | 25,757.328 for Dow, 9,909.92 for Nasdaq; 80% of initial levels
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.55%
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| Cusip: | 17330FTF8
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