Published on 1/21/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $430,000 contingent bearish notes linked to S&P 500
By Kiku Steinfeld
Chicago, Jan. 22 – Citigroup Global Markets Holdings Inc. priced $430,000 of 0% contingent bearish market-linked notes due Feb. 7, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the index closes at or below its 80% knock-out level on any trading day, in which case the payout at maturity will be par plus 6.5%.
If a knock-out event does not occur and the final index level is less than the initial index level, the payout will be par plus the absolute value of the index return.
If a knock-out event does not occur and the final index level is greater than or equal to the initial index level, investors will receive par.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent bearish market-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $430,000
|
| Maturity: | Feb. 7, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Knock-out event will occur if index closes at or below 80% knock-out level on any trading day from strike date to final valuation date; if knock out event occurs, par plus 6.5%; if knock-out event does not occur and final index level is less than initial index level, par plus absolute value of index return; if knock-out event does not occur and final index level is greater than or equal to initial index level, par
|
| Initial level: | 4,205.52
|
| Strike date: | May 30, 2023
|
| Knock-out level: | 3,364.416, 80% of initial level
|
| Strike date: | May 30, 2023
|
| Pricing date: | June 2, 2023
|
| Settlement date: | June 7, 2023
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17291RAT9
|
|
|
|
|
|
|
|
|
© 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.
