Published on 6/21/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.06 million barrier digital plus securities on Dow, Russell, S&P
By Kiku Steinfeld
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $1.06 million of 0% barrier digital plus securities due Dec. 4, 2025 linked to the S&P 500 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 34.5%.
If the worst performer falls but finishes at or above the 75% 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, S&P 500 index
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| Amount: | $1,055,000
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| Maturity: | Dec. 4, 2025
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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 34.5%; par if any index falls by up to 25%; otherwise, full exposure to worst performing index’s decline from initial level
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| Initial levels: | 4,567.00 for S&P, 2,198.908 for Russell, 34,483.72 for Dow
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| Barrier levels: | 3,425.250 for S&P, 1,649.181 for Russell, 25,862.790 for Dow; 75% of initial levels
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| Pricing date: | Nov. 30, 2021
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| Settlement date: | Dec. 3, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.6%
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| Cusip: | 17329UGC9
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