Published on 7/6/2022 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.6 million three-month dual digital securities on S&P, USD/JPY exchange rate
By William Gullotti
Buffalo, N.Y., July 6 – Citigroup Global Markets Holdings Inc. priced $1.6 million of 0% dual digital securities due Aug. 26, 2022 linked to the S&P 500 index and the U.S. dollar/Japanese yen exchange rate, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be guaranteed by Citigroup Inc.
If the final value of the S&P 500 is less than its final barrier value – 95% of the initial value – and the final value of the exchange rate rate is also less than its final barrier value – 96% of the initial value – then the payout at maturity will be $9,279.95 per $1,000 security.
If either of the upper digital payout conditions are not satisfied, investors will receive a lower digital payout of $232.07 per $1,000 security, representing a 76.793% loss of the initial investment at maturity.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual digital securities
|
| Underlyings: | S&P 500 index, U.S. dollar/Japanese yen exchange rate
|
| Amount: | $1,595,000
|
| Maturity: | Aug. 26, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final value of each underlier is less than its respective final barrier, $9,279.95 per security; if only one underlier finishes below its final barrier, $232.07 per security
|
| Initial values: | 3,821.15 for S&P 500, 136.86 for USD/JPY
|
| Final barriers: | 3,630.09, 95% of initial value for S&P 500; 131.38, 96% of initial rate for USD/JPY
|
| Pricing date: | June 29
|
| Settlement date: | July 7
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17330N435
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
