Published on 11/7/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.05 million buffer securities linked to SPDR ETF
New York, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $1.05 million of 0% buffer securities due May 2, 2024 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 150% of the ETF return, subject to a maximum return of par plus 61.5%.
Investors will receive par if the ETF declines up to 10% and will lose 1% for every 1% that the ETF declines beyond the buffer.
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: | Buffer securities
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Underlying fund: | Energy Select Sector SPDR Fund
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Amount: | $1,047,000
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Maturity: | May 2, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF gains, par plus 150% of ETF return, subject to a maximum return of par plus 61.5%; par if ETF declines up to 10%; otherwise, 1% loss for every 1% decline beyond buffer
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Initial level: | $89.25
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Buffer level: | $80.325, 90% of initial level
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Upside leverage: | 150%
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Cap: | 61.5%
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Buffer: | 10%
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.725%
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Cusip: | 17330YDV9
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