Published on 9/21/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.33 million buffer securities tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Citigroup Global Markets Holdings Inc. priced $1.33 million of 0% buffer securities due Jan. 5, 2023 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index finishes above its initial level, the payout at maturity will be par plus 1.4 times the gain of the lesser performing index, capped at par plus 12%. If the lesser performing index falls by up to 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% index decline of the lesser performing 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: | $1,325,000
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Maturity: | Jan. 5, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.4 times any gain of lesser performer, capped at par plus 12%; par if index falls by up to 15%; otherwise, 1% loss for every 1% decline if lesser performer beyond 15%
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Initial levels: | 4,297.50 for S&P, 2,310.549 for Russell
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Buffer levels: | 3,652.875 for S&P, 1,963.967 for Russell; 85% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.6%
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Cusip: | 17329FLQ5
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