Published on 2/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $5.9 million geared buffer securities tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – Citigroup Global Markets Holdings Inc. priced $5.9 million of 0% geared buffer securities due Feb. 22, 2024 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 1.128 times any gain of the least performing index.
Investors will receive par if the laggard index falls by up to 15% and will lose 1.1765% per 1% drop of the laggard index beyond 15%.
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: | Geared buffer securities
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $5.9 million
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| Maturity: | Feb. 22, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 112.8% of any gain of laggard index; par if laggard index declines by up to 15%; 1.1765% loss for every 1% decline of laggard index beyond 15%
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| Initial index level: | 4,475.01 for S&P, 2,079.311 for Russell
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| Buffer level: | 3,803.759 for S&P, 1,767.414 for Russell, 85% of initial level
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17330ADE9
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