Published on 3/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.44 million 0% buffer securities linked to S&P 500
By Kiku Steinfeld
Chicago, March 13 – Citigroup Global Markets Holdings Inc. priced $1.44 million of 0% buffer securities due Dec. 4, 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 100% of the index return subject to a maximum return of par plus 21.95%. Investors will receive par if the index declines but ends above the 15% buffer and will lose 1% for every 1% that the index declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,435,000
|
| Maturity: | Dec. 4, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus 100% of index return subject to a maximum return of par plus 21.95%; par if index declines but finishes above the 15% buffer; otherwise exposure to decline in index beyond buffer
|
| Upside leverage: | 100%
|
| Cap: | 21.95%
|
| Initial level: | 3,963.94
|
| Buffer: | 15%
|
| Buffer level: | 3,369.349, 85% of initial level
|
| Call: | Non-callable
|
| Pricing date: | Nov. 28, 2022
|
| Settlement date: | Dec. 1
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.4%
|
| Cusip: | 17330YPN4
|
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