Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $200,000 0% barrier securities linked to Baidu
By Kiku Steinfeld
Chicago, March 26 – Citigroup Global Markets Holdings Inc. priced $200,000 of 0% barrier securities due July 3, 2025 linked to the common stock of Baidu, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock gains the payout at maturity will be par plus 150% of the stock return subject to a maximum return of par plus 80%. Investors will receive par if the stock declines but ends above the 80% barrier and will lose 1% for every 1% that the stock declines if it finishes below the barrier.
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: | Barrier securities
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Underlying stock: | Baidu, Inc.
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Amount: | $200,000
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Maturity: | July 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock gains, par plus 150% of stock return subject to a maximum return of par plus 80%; par if stock declines but finishes above the 80% barrier; otherwise exposure to decline in stock
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Upside leverage: | 150%
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Cap: | 80%
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Initial level: | $136.91
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Final barrier: | $109.528, 80% of initial level
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Call: | Non-callable
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Pricing date: | June 30, 2023
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Settlement date: | July 6, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.25%
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Cusip: | 17291RU59
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