Published on 9/9/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.5 million buffer securities linked to S&P, Russell
By William Gullotti
Buffalo, N.Y., Sept. 9 – Citigroup Global Markets Holdings Inc. priced $5.5 million of 0% buffer securities due Sept. 11, 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 148.5% of 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: | $5.5 million
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| Maturity: | Sept. 11, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 148.5% of 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: | 3,986.16 for S&P, 1,855.594 for Russell
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| Buffer levels: | 3,786.852 for S&P, 1,762.814 for Russell; 95% of initial levels
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| Strike date: | Aug. 30
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| Pricing date: | Sept. 6
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| Settlement date: | Sept. 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17330R3C7
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