Published on 1/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.7 million buffer securities linked to S&P 500
New York, Jan. 6 – Citigroup Global Markets Holdings Inc. priced $4.7 million of 0% buffer securities due Nov. 22, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of par plus 19%.
Investors will receive par if the index declines by no more than 10% and will lose 1% for every 1% that the index declines beyond 10%.
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 index: | S&P 500 index
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| Amount: | $4.7 million
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| Maturity: | Nov. 22, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus 200% of index return, subject to a maximum return of par plus 19%; par if index declines by no more than 10%; otherwise, 1% loss for each 1% decline beyond 10%
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| Initial level: | 3,958.79
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| Upside leverage: | 200%
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| Cap: | 19%
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| Buffer: | 10%
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| Buffer level: | 3,562.911, 90% of initial level
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| Strike date: | Nov. 16, 2022
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| Pricing date: | Nov. 17, 2022
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| Settlement date: | Nov. 21, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17330YPU8
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