Published on 11/25/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $439,000 buffer securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 28 – Citigroup Global Markets Holdings Inc. priced $439,000 of 0% buffer securities due March 27, 2025 linked to the S&P 500 index and the Russell 2000 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 200% of any positive return of the laggard index, up to a maximum of par plus 50%.
If the laggard index falls by up to 10%, the payout will be par.
Investors will be exposed to declines in the laggard index beyond 10%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
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| Underlying index: | S&P 500 index, Russell 2000 index
|
| Amount: | $439,000
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| Maturity: | March 27, 2025
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | Par plus 200% of any positive return of laggard index, up to a maximum of par plus 50%; par if laggard index falls by up to 10%; exposure to any losses of laggard index beyond 10%
|
| Initial levels: | 4,520.16 for S&P, 2,075.443 for Russell
|
| Buffer levels: | 4,068.144 for S&P, 1,867.899 for Russell, 90% of initial levels
|
| Pricing date: | March 24
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| Settlement date: | March 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.2%
|
| Cusip: | 17330AXM9
|
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