Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $600,000 barrier securities on index, ETF basket
Chicago, Aug. 16 – Citigroup Global Markets Holdings Inc. priced $600,000 of 0% barrier securities due July 22, 2027 linked to a basket of the S&P 500 index with a 40% weight, the iShares MSCI EAFE ETF with a 20% weight, the iShares MSCI Emerging Markets ETF with a 10% weight, and the Russell 2000 index with a 30% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final basket level is greater than the initial level, the payout at maturity will be par plus 120% of the basket gain.
If the final basket level is less than or equal to the initial level but greater than or equal to the 65% barrier level, the payout will be par.
Otherwise, investors will lose 1% for every 1% basket decline.
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 securities
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| Underlying basket: | S&P 500 index (40% weight), iShares MSCI EAFE ETF (20% weight), iShares MSCI Emerging Markets ETF (10% weight) and Russell 2000 index (30% weight)
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| Amount: | $600,000
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| Maturity: | July 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final basket level is greater than the initial level, par plus 120% of the basket return; if the final basket level is less or equal to than the initial level but greater than or equal to the 65% barrier level, par; otherwise, investors will lose 1% for every 1% basket decline
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| Initial levels: | $61.65 for EAFE, $38.90 for EM, 1,738.417 for Russell, 3,830.85 for S&P
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| Barrier level: | 65% of initial level
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| Pricing date: | July 18, 2022
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| Settlement date: | July 21, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17330PRL5
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