Published on 4/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.08 million buffer securities linked to S&P 500
New York, April 4 – Citigroup Global Markets Holdings Inc. priced $2.08 million of 0% buffer securities due April 2, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of par plus 14%.
Investors will receive par if the index declines up to 15% and will lose 1% for every 1% that the index declines beyond 15%.
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 index: | S&P 500 index
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Amount: | $2.08 million
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Maturity: | April 2, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 200% of index return, subject to a maximum return of par plus 14%; par if index declines up to 15%; otherwise, exposure to decline in index beyond 15%
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Initial level: | 3,970.99
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Buffer: | 15%
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Buffer level: | 3,375.3415, 85% of initial level
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Pricing date: | March 24
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Settlement date: | March 29
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0%
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Cusip: | 17331H7F7
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