Published on 5/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $462,000 0% buffer securities tied to J&J, Procter & Gamble
Chicago, May 16 – Citigroup Global Markets Holdings Inc. priced $462,000 of 0% buffer securities due Dec. 21, 2023 linked to the worst performing of the common stocks of Johnson & Johnson and Procter & Gamble Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing stock gains the payout at maturity will be par plus 200% of the worst performing stock return subject to a maximum return of par plus 21.3%. Investors will receive par if the worst performing stock declines but ends above the 30% buffer and will lose 1% for every 1% that the worst performing stock declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffer securities
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Underlying stocks: | Johnson & Johnson and Procter & Gamble Co.
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Amount: | $462,000
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Maturity: | Dec. 21, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing stock gains, par plus 200% of worst performing stock return subject to a maximum return of par plus 21.3%; par if worst performing stock declines but finishes above the 30% buffer; otherwise, exposure to decline in worst performing stock beyond buffer
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Upside leverage: | 200%
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Cap: | 21.3%
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Initial levels: | $168.19 for Johnson & Johnson, $133.84 for Procter & Gamble
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Buffer levels: | $117.733 for Johnson & Johnson, $93.688 for Procter & Gamble , 70% of initial levels
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Buffer: | 30%
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Call: | Non-callable
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Pricing date: | June 16, 2022
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Settlement date: | June 22, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17330PF95
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