Published on 5/27/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $990,000 buffer securities linked to S&P, Russell
By William Gullotti
Buffalo, N.Y., May 27 – Citigroup Global Markets Holdings Inc. priced $990,000 of 0% buffer securities due May 23, 2025 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.
The payout at maturity will be par plus 1.525 times any positive return of the laggard index.
If the laggard index falls by up to 5%, the payout will be par. Investors will be exposed to declines in the laggard index beyond 5%.
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 index: | Russell 2000 index, S&P 500 index
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Amount: | $990,000
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Maturity: | May 23, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.525 times any positive return of laggard index; par if laggard index falls by up to 5%; lose 1% for every 1% decline of laggard index beyond 5%
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Initial levels: | 3,901.36 for S&P, 1,773.266 for Russell
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Buffer levels: | 3,706.292 for S&P, 1,684.603 for Russell; 95% of initial levels
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Pricing date: | May 20
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Settlement date: | May 25
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17330FZC8
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