Published on 5/3/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.78 million barrier digital plus notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 3 – Citigroup Global Markets Holdings Inc. priced $1.78 million of 0% barrier digital plus securities due May 1, 2028 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least-performing index is greater than or equal to its initial level, the payout at maturity will be par plus the greater of the least-performing index’s return and 46.25%.
If the final level of the least-performing index is less than its initial level but greater than or equal to its barrier value, 75% of its initial level, the payout will be par.
If the final level of the least-performing index is less than its barrier value, investors will be exposed to the decline of the least-performing index from its initial level.
The notes will be guaranteed by Citigroup Inc.
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: | S&P 500, Russell 2000
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| Amount: | $1.78 million
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| Maturity: | May 1, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of least-performing index is greater than or equal to initial level, par plus greater of least-performing index’s return and 46.25%; if final level of least-performing index is less than initial level but greater than or equal to barrier value, par; if final level of least-performing index is less than barrier value, exposure to decline of least-performing index from initial level
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| Initial levels: | 4,271.78 for S&P, 1,940.665 for Russell
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| Barrier values: | 3,203.835 for S&P, 1,455.499 for Russell, or 75% of initial levels
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| Pricing date: | April 22
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| Settlement date: | April 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17330FCY5
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