Published on 7/12/2021 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.25 million barrier digital plus notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, July 12 – Citigroup Global Markets Holdings Inc. priced $2.25 million of 0% barrier digital plus securities due May 28, 2027 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worse performing index finishes at or above its initial level, the payout at maturity will be par plus the greater of the digital return amount of 35% and the return of the lesser performing index.
If the worse performing index falls by up to 20%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the lesser performing index.
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: | Barrier digital plus securities
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Underlying indexes: | S&P 500, Dow Jones industrial average
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Amount: | $2,247,000
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Maturity: | May 28, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the worse performing index finishes at or above its initial level, par plus the greater of the digital return amount of 35% and the return of the lesser performing index; if the worse performing index falls by up to barrier level, par; otherwise, full exposure to decline of the lesser performing index
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Initial levels: | 4,188.13 for S&P, 34,312.46 for Dow
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Barrier levels: | 3,350.504 for S&P, 27,449.968 for Dow, 80% of initial levels
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Pricing date: | May 25
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Settlement date: | May 28
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.35%
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Cusip: | 17329FPK4
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