Published on 2/8/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7.55 million barrier digital plus securities on Dow, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Feb. 8 – Citigroup Global Markets Holdings Inc. priced $7.55 million of 0% barrier digital plus securities due Feb. 6, 2026 linked to the Nasdaq-100 index, the Russell 2000 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 each index finishes at or above the initial level, the payout at maturity will be par plus the greater of the least performing index’s gain and the fixed return of 52%.
If the worst performer falls but finishes at or above the 80% barrier level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performing index 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: | Barrier digital plus securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $7.55 million
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| Maturity: | Feb. 6, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each final index level is greater than or equal to initial levels, par plus greater of least performing index’s return and 52%; par if any index falls by up to 20%; otherwise, full exposure to worst performing index’s decline from initial level
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| Initial level: | 14,501.11 for Nasdaq, 1,991.031 for Russell, 35,111.16 for Dow
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| Barrier level: | 11,600.888 for Nasdaq, 1,592.825 for Russell, 28,088.928 for Dow; 80% of initial level
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 8
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17330A4W9
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