Published on 12/5/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.02 million barrier digital plus securities on Dow, S&P, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 5 – Citigroup Global Markets Holdings Inc. priced $1.02 million of 0% barrier digital plus securities due April 5, 2027 linked to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each index finishes at or above the initial level, the payout at maturity will be par plus the greater of the least performing index’s gain and the fixed return of 47%.
If the worst performer falls but finishes at or above the 75% barrier level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Barrier digital plus securities
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Underlying indexes: | S&P 500 index, Dow Jones industrial average, Nasdaq-100 index
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Amount: | $1,016,000
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Maturity: | April 5, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each final index level is greater than or equal to initial levels, par plus greater of least performing index’s return and 47%; par if any index falls by up to 25%; otherwise, full exposure to worst performing index’s decline from initial level
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Initial level: | 14,838.49 for Nasdaq, 4,530.41 for S&P, 34,678.35 for Dow
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Barrier level: | 11,128.868 for Nasdaq, 3,397.808 for S&P, 26,008.763 for Dow; 75% of initial level
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.1%
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Cusip: | 17330AR95
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