Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million buffer securities linked to S&P
By William Gullotti
Buffalo, N.Y., March 28 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% buffer securities due May 3, 2023 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.
The payout at maturity will be par plus any positive return of the index, capped at 14.7%.
If the index falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond the 15% buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Buffer securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,000,000
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| Maturity: | May 3, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any positive return of the index, capped at 14.7%; par if index falls by up to 15%; otherwise, 1% loss for each 1% decline of index beyond buffer
|
| Initial level: | 4,183.18
|
| Buffer level: | 3,555.703; 85% of initial levels
|
| Pricing date: | April 28, 2021
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| Settlement date: | May 3, 2021
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 17329FM92
|
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