Published on 8/10/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million buffer securities linked to Nasdaq, S&P, Russell
By William Gullotti
Buffalo, N.Y., Aug. 10 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% buffer securities due Sept. 8, 2023 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 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 105% of any positive return of the laggard index.
If the laggard index falls by up to 17%, the payout will be par. Investors will be exposed to declines in the laggard index beyond 17%.
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, Nasdaq-100 index
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Amount: | $1 million
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Maturity: | Sept. 8, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 105% of any positive return of laggard index; par if laggard index falls by up to 17%; lose 1% for every 1% decline of laggard index beyond 17%
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Initial levels: | 4,145.19 for S&P, 13,207.69 for Nasdaq, 1,921.824 for Russell
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Buffer levels: | 3,440.508 for S&P, 10,962.383 for Nasdaq, 1,595.114 for Russell; 83% of initial levels
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Pricing date: | Aug. 5
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Settlement date: | Aug. 10
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.5%
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Cusip: | 17330PYW3
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