Published on 8/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $743,000 dual directional barrier securities on Russell, S&P
By William Gullotti
Buffalo, N.Y., Aug. 2 – Citigroup Global Markets Holdings Inc. priced $743,000 of 0% dual directional barrier securities due Jan. 5, 2024 linked to the S&P 500 index and the Russell 2000 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 105% 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, 85% 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: | S&P 500 index, Russell 2000 index
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| Amount: | $743,000
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| Maturity: | Jan. 5, 2024
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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 105% 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: | 3,785.38 for S&P, 1,707.99 for Russell
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| Final barrier levels: | 3,217.573 for S&P, 1,451.792 for Russell; 85% of initial index level
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330P5Y1
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