Published on 7/29/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $706,000 dual directional buffer notes linked to S&P, Russell, Dow
By Kiku Steinfeld
Chicago, July 29 – Citigroup Global Markets Holdings Inc. priced $706,000 of 0% dual directional buffer securities due Jan. 20, 2023 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least-performing index’s final level is greater than its initial level, the payout at maturity will be par plus that index’s return up to a 17% maximum gain.
If the least-performing index’s final level is less than or equal to its initial level but greater than or equal to its final buffer level, 90% of its initial level, the payout will be par plus the absolute value of the least-performing index’s return.
If the least-performing index’s final level is less than its final buffer level, investors will lose 1% for every 1% that the least-performing index declines beyond 10%.
The notes are guaranteed by Citigroup Inc.
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: | Dual directional buffer securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 and Russell 2000
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| Amount: | $706,000
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| Maturity: | Jan. 20, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least-performing index’s final level is greater than or equal to initial level, par plus that index’s return, up to a maximum gain of 17%; if least-performing index’s final level is less than initial level but greater than or equal to final buffer level, par plus absolute value of least-performing index’s return; if least-performing index’s final level is less than final buffer level, 1% loss for every 1% that least-performing index declines beyond buffer
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| Initial index levels: | 34,687.85 for Dow, 4,327.16 for S&P 500 and 2,163.238 for Russell 2000
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| Final buffer levels: | 31,219.065 for Dow, 3,894.444 for S&P 500 and 1,946.914 for Russell 2000, or 90% of initial index levels
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| Pricing date: | July 16
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| Settlement date: | July 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.45%
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| Cusip: | 17329Q4G2
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