Published on 7/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $919,000 0% dual directional barrier notes on Nasdaq, S&P
By Kiku Steinfeld
Chicago, July 24 – Citigroup Global Markets Holdings Inc. priced $919,000 of 0% dual directional barrier securities due Feb. 21, 2025 linked to the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout will be par plus 150% of the worst performing index return subject to a maximum return of par plus 28.5%.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but ends above the 80% final barrier.
Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
The securities are non-callable.
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: | Dual directional barrier securities
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Underlying indexes: | Nasdaq-100 index and S&P 500 index
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Amount: | $919,000
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Maturity: | Feb. 21, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus 150% of worst performing index return subject to a maximum return of par plus 28.5%; par plus absolute value of worst performing index return if worst performing index declines but ends above final barrier; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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Upside leverage: | 150%
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Cap: | 28.5%
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Final barriers: | 9,886.544 for Nasdaq-100 index, 3,263.272 for S&P index, 80% of initial level
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Call: | Non-callable
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Initial levels: | 12,358.18 for Nasdaq-100 index, 4,079.09 for S&P 500 index
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Pricing date: | Feb. 17, 2023
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Settlement date: | Feb. 23, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.55%
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Cusip: | 17331CH42
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