Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.05 million dual directional barrier securities on Nasdaq, Russell, Dow
By William Gullotti
Buffalo, N.Y., June 13 – Citigroup Global Markets Holdings Inc. priced $1.05 million of 0% dual directional barrier securities due June 11, 2027 linked to the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index’s final level is greater than its initial level, the payout at maturity will be par plus 151.5% of the least performing index’s return.
If the least performing index’s final level is less than or equal to its initial level but greater than or equal to its final barrier level, 70% of its initial level, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are 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: | Dual directional barrier securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,049,000
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| Maturity: | June 11, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index’s final level is greater than or equal to initial level, par plus 151.5% of the least performing index’s return; if the least performing index’s final level is less than initial level but greater than or equal to final barrier level, par plus the absolute value of that index’s return; otherwise, 1% loss for every 1% that the worst performer declines from initial level
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| Initial levels: | 32,910.9 for Dow, 1,891.007 for Russell, 12,615.13 for Nasdaq
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| Final barrier levels: | 23,037.63 for Dow, 1,323.705 for Russell, 8,830.591 for Nasdaq; 70% of initial index level
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| Pricing date: | June 8
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| Settlement date: | June 13
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17330P4T3
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