Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 16.5% single observation ELKS on natural gas fund
Chicago, Feb. 11 – Citigroup Global Markets Holdings Inc. priced $500,000 of 16.5% single observation Equity LinKed Securities due Feb. 23, 2024 linked to the shares of United States Natural Gas Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless the final price is less than 50% of the initial price, in which case the payout will be a number of shares equal to $1,000 divided by the initial share price.
The notes are guaranteed by Citigroup Inc.
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: | Single observation Equity LinKed Securities
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Underlying ETF: | United States Natural Gas Fund, LP
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Amount: | $500,000
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Maturity: | Feb. 23, 2024
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Coupon: | 16.5%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than 50% of initial price, in which case investors will receive 134.04826 shares
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Initial share price: | $7.46
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Downside threshold: | $3.73; 50% of initial level
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Strike date: | May 19, 2023
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Pricing date: | May 22, 2023
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Settlement date: | May 25, 2023
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.2%
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Cusip: | 17331AFY2
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