Published on 6/25/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $876,000 barrier digital plus securities on Dow
By Kiku Steinfeld
Chicago, June 27 – Citigroup Global Markets Holdings Inc. priced $876,000 of 0% barrier digital plus securities due Dec. 17, 2026 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index finishes at or above the initial level, the payout at maturity will be par plus greater of the index’s gain and the fixed return of 15%.
If the index falls but finishes above the 85% barrier level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline from the initial level.
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: | Barrier digital plus securities
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| Underlying index: | Dow Jones industrial average
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| Amount: | $876,000
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| Maturity: | Dec. 17, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final index level is greater than or equal to initial level, par plus greater of index’s return and 15%; par if the index falls by up to 15%; otherwise, full exposure to decline from initial level
|
| Initial level: | 35,544.18
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| Barrier level: | 30,212.553; 85% of initial level
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| Pricing date: | Dec. 14, 2021
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| Settlement date: | Dec. 17, 2021
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17329UZ53
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