Published on 2/7/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.2 million PLUS linked to MidCap, Russell index basket
By William Gullotti
Buffalo, N.Y., Feb. 7 – Citigroup Global Markets Holdings Inc. priced $6.2 million of 0% Performance Leveraged Upside Securities due March 3, 2023 linked to an equally-weighted basket of the Russell 2000 index and the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par of $10 plus 300% of the basket return, subject to a maximum payout of par plus 14%.
Investors will be fully exposed to any basket decline.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Performance Leveraged Upside Securities
|
| Underlying indexes: | S&P MidCap 400 index, Russell 2000 index; 50% weight each
|
| Amount: | $6,198,600
|
| Maturity: | March 3, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than initial level, par plus 300% of basket return capped at 14%; otherwise, 1% loss for every 1% that basket declines from initial level
|
| Initial index levels: | 2,635.38 for MidCap, 2,028.453 for Russell
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.25%
|
| Cusip: | 17330L397
|
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