Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.69 million buffer securities linked to Russell 2000
New York, Dec. 2 – Citigroup Global Markets Holdings Inc. priced $6.69 million of 0% buffer securities due Nov. 27, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of par plus 33.4%.
Investors will receive par if the index declines by no more than 20% and will lose 1% for every 1% that the index declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
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
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Amount: | $6,687,000
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Maturity: | Nov. 27, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 150% of index return, subject to a maximum return of par plus 33.4%; par if index declines by up to 20%; otherwise, 1% loss for every 1% decline beyond 20%
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Initial level: | 1,860.441
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Buffer: | 20%
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Buffer level: | 1,488.3528, 80% of initial level
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Upside leverage: | 150%
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Cap: | 33.4%
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Pricing date: | Nov. 22
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Settlement date: | Nov. 28
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.5%
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Cusip: | 17330YP87
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