Published on 4/20/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $910,000 enhanced barrier digital notes on three indexes
By Kiku Steinfeld
Chicago, April 20 – Citigroup Global Markets Holdings Inc. priced $910,000 of 0% enhanced barrier digital securities due Jan. 25, 2024 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index finishes above its 70% final barrier, the payout at maturity will be par plus the 13% digital payment. Otherwise the notes will pay par less 1% for every 1% decline of the worst performing index.
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: | Enhanced barrier digital securities
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $910,000
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Maturity: | Jan. 25, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 70% final barrier, par plus 13% digital return; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
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Initial levels: | 33,376.48 for Dow, 11,235.88 for Nasdaq, 1,776.941 for Russell
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Upside payment: | 13%
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Final barriers: | 23,363.536 for Dow, 7,865.116 for Nasdaq, 1,243.859 for Russell, 70% of initial levels
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.725%
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Cusip: | 17330YWW6
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