Published on 11/23/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $17.08 million dual directional buffer securities linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $17.08 million of 0% dual directional buffer securities due Jan. 20, 2023 linked to the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the least performing asset finishes above its initial level, the payout at maturity will be par plus the gain of that asset, capped at 10%.
If the least-performing asset finishes flat or falls by up to 15%, the payout will be par plus the absolute value of that index’s return. Otherwise, investors will lose 1% for every 1% decline of the least performing asset beyond 15%.
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: | Dual directional buffer securities
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Underlying assets: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $17,078,000
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Maturity: | Jan. 20, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain of least performing asset, capped at 10%; if least performing asset falls by up to 15%, par plus absolute value of that index’s return; otherwise, 1% loss for every 1% decline of least performing asset beyond 15%
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Initial levels: | 4,682.8 for S&P, 2,400.934 for Russell 2000, 36,087.45 for Dow
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Buffer levels: | 3,980.38 for S&P, 2,040.794 for Russell 2000, 30,674.333 for Dow, 85% of initial levels
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Pricing date: | Nov. 17
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Settlement date: | Nov. 22
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17329UA35
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