Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.62 million barrier digital plus securities on S&P 500
By William Gullotti
Buffalo, N.Y., Feb. 24 – Citigroup Global Markets Holdings Inc. priced $2.62 million of 0% barrier digital plus securities due April 27, 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 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: | S&P 500 index
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Amount: | $2,619,000
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Maturity: | April 27, 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 levels, 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
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Initial level: | 4,134.98
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Barrier level: | 3,514.733; 85% of initial level
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Pricing date: | April 22, 2021
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Settlement date: | April 27, 2021
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.75%
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Cusip: | 17329F5W0
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