Published on 6/17/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $14.97 million buffer securities tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 17 – Citigroup Global Markets Holdings Inc. priced $14.97 million of 0% buffer securities due June 15, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index finishes above its initial level, the payout at maturity will be par plus 1.05 times the index gain, capped at par plus 86%. If the index falls by up to 20.69%, the payout will be par. Otherwise, investors will lose 1% for every 1% index decline beyond 20.69%.
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 index: | S&P 500 index
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Amount: | $14,972,000
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Maturity: | June 15, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.05 times any index gain, capped at par plus 86%; par if index falls by up to 20.69%; otherwise, 1% loss for every 1% index decline beyond 20.69%
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Initial level: | 3,900.86
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Buffer level: | 3,093.77207; 79.31% of initial level
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Pricing date: | June 10
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Settlement date: | June 15
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.95%
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Cusip: | 17330P5E5
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