Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $15.63 million geared buffer securities tied to S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, May 31 – Citigroup Global Markets Holdings Inc. priced $15.63 million of 0% geared buffer securities due May 29, 2025 linked to the Dow Jones industrial average 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 1.1225 times any gain of the least performing index.
Investors will receive par if the laggard index falls by up to 30% and will lose 1% per 1% drop of the laggard index beyond 30%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Geared buffer securities
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
|
| Amount: | $15,634,000
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| Maturity: | May 29, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 112.25% of any gain of laggard index; par if laggard index declines by up to 30%; 1% loss for every 1% decline of laggard index beyond 30%
|
| Initial index level: | 3,973.75 for S&P, 31,880.24 for Dow
|
| Buffer level: | 2,781.625 for S&P, 22,316.168 for Dow, 70% of initial level
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| Pricing date: | May 23
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| Settlement date: | May 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
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| Cusip: | 17330FWE7
|
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