Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $700,000 barrier digital securities linked to Bank of America
By Kiku Steinfeld
Chicago, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $700,000 of 0% barrier digital securities due April 29, 2024 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock gains the payout at maturity will be par plus 20.5%. Investors will receive par if the stock declines but ends above the 75% barrier and will lose 1% for every 1% that the stock declines if it finishes below the barrier.
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: | Barrier digital securities
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| Underlying stock: | Bank of America Corp.
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| Amount: | $700,000
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| Maturity: | April 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If stock gains, par plus 20.5%; par if stock declines but finishes above the 75% barrier; otherwise exposure to decline in stock
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| Digital payment: | 20.5%
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| Cap: | None
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| Initial level: | $27.14
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| Final barrier: | $20.355, 75% of initial level
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| Call: | Non-callable
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17331H3A2
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