Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.23 million buffer securities linked to Russell, S&P
By William Gullotti
Buffalo, N.Y., March 28 – Citigroup Global Markets Holdings Inc. priced $1.23 million of 0% buffer securities due Nov. 1, 2028 linked to the worst performing of the S&P 500 index and the Russell 2000 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 112% of any positive return of the laggard index.
If the laggard index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond the 20% buffer.
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: | Buffer securities
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $1,226,000
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Maturity: | Nov. 1, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 112% of any positive return of laggard index; par if laggard index falls by up to 20%; otherwise, 1% loss for each 1% decline beyond buffer
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Initial levels: | 4,183.18 for S&P, 2,304.158 for Russell
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Buffer levels: | 3,346.544 for S&P, 1,843.326 for Russell; 80% of initial levels
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Pricing date: | April 28, 2021
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Settlement date: | April 30, 2021
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17329FE59
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