Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $66,000 0% buffer securities linked to Russell, S&P
Chicago, April 27 – Citigroup Global Markets Holdings Inc. priced $66,000 of 0% buffer securities due May 31, 2024 linked to the worst performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout at maturity will be par plus 200% of the worst performing index return subject to a maximum return of par plus 32%. Investors will receive par if the worst performing index declines but ends above the 10% buffer and will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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 indexes: | Russell 2000 index and S&P 500 index
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Amount: | $66,000
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Maturity: | May 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus 200% of worst performing index return subject to a maximum return of par plus 32%; par if worst performing index declines but finishes above the 10% buffer; otherwise, exposure to decline in worst performing index beyond buffer
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Upside leverage: | 200%
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Cap: | 32%
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Initial levels: | 1,838.238 for Russell, 4,057.84 for S&P
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Buffer levels: | 1,654.414 for Russell, 3,652.056 for S&P, 90% of initial levels
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Buffer: | 10%
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Call: | Non-callable
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Pricing date: | May 26, 2022
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Settlement date: | June 1, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330FNY3
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