Published on 11/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $482,000 0% barrier securities linked to Energy Select Sector
By Kiku Steinfeld
Chicago, Nov. 9 – Citigroup Global Markets Holdings Inc. priced $482,000 of 0% barrier securities due April 15, 2025 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout at maturity will be par plus 111.25% of the ETF return. Investors will receive par if the ETF declines but ends above the 80% barrier and will lose 1% for every 1% that the ETF 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Barrier securities
|
| Underlying ETF: | Energy Select Sector SPDR Fund
|
| Amount: | $482,000
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| Maturity: | April 15, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains, par plus 111.25% of ETF return; par if ETF declines but finishes above the 80% barrier; otherwise exposure to decline in ETF
|
| Upside leverage: | 111.25%
|
| Cap: | None
|
| Initial level: | $85.66
|
| Final barrier: | $68.528, 80% of initial level
|
| Call: | Non-callable
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| Pricing date: | April 10, 2023
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| Settlement date: | April 13, 2023
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17331HQM1
|
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