Published on 8/23/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.02 million barrier securities on index, ETF basket
By Kiku Steinfeld
Chicago, Aug. 23 – Citigroup Global Markets Holdings Inc. priced $1.02 million of 0% barrier securities due Jan. 22, 2027 linked to a basket of the S&P 500 index with a 30% weight, the iShares MSCI EAFE exchange-traded fund with a 20% weight, the Euro Stoxx 50 index with a 20% weight, and the Russell 2000 index with a 30% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final basket level is greater than the initial level, the payout at maturity will be par plus 106% of the basket gain.
If the final basket level is less than or equal to the initial level but greater than or equal to the 65% barrier level, the payout will be par.
Otherwise, investors will lose 1% for every 1% basket decline.
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: | Barrier securities
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| Underlying basket: | S&P 500 index (30% weight), iShares MSCI EAFE exchange-traded fund (20% weight), Euro Stoxx 50 index (20% weight) and Russell 2000 index (30% weight)
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| Amount: | $1.02 million
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| Maturity: | Jan. 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final basket level is greater than the initial level, par plus 106% of the basket return; if the final basket level is less or equal to than the initial level but greater than or equal to the 65% barrier level, par; otherwise, investors will lose 1% for every 1% basket decline
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| Initial levels: | 4,577.11 for S&P, $49.22 for ETF, 4,257.82 for Stoxx, 2,096.225 for Russell
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| Barrier levels: | 65% of initial levels
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| Pricing date: | Jan. 18, 2022
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| Settlement date: | Jan. 21, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17329UZV6
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