Published on 1/30/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.93 million buffer securities linked to index basket
By Kiku Steinfeld
Chicago, Jan. 31 – Citigroup Global Markets Holdings Inc. priced $2.93 million of 0% buffer securities due Feb. 24, 2023 linked to an equally weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, each with equal weights.
The payout at maturity will be par plus 3 times any positive return of the basket, capped at 11.6%.
If the basket falls by up to 10%, the payout will be par. Investors will be exposed to declines in the basket below 10%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying basket: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index; equal weights
|
| Amount: | $2,929,000
|
| Maturity: | Feb. 24, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 3 times any positive basket return, capped at 11.6%; par if basket falls by up to 10%; 1% loss for every 1% decline of basket beyond 10%
|
| Initial levels: | 34,715.39 for Dow, 14,846.46 for Nasdaq, 2,024.037 for Russell
|
| Buffer level: | 90% of initial levels
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.22%
|
| Cusip: | 17330A5A6
|
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