Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $350,000 0% buffer securities linked to SPDR S&P Oil ETF
Chicago, July 28 – Citigroup Global Markets Holdings Inc. priced $350,000 of 0% buffer securities due July 24, 2025 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout at maturity will be par plus 200% of the ETF return subject to a maximum return of par plus 48%. Investors will receive par if the ETF declines but ends above the 10% buffer 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 ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $350,000
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Maturity: | July 24, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF gains, par plus 200% of ETF return subject to a maximum return of par plus 48%; par if ETF declines but finishes above the 10% buffer; otherwise, exposure to decline in ETF beyond buffer
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Call: | Non-callable
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Initial level: | $136.08
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Buffer level: | $122.472, 90% of initial level
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Upside leverage: | 200%
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Cap: | 48%
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Buffer: | 10%
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Pricing date: | July 21
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Settlement date: | July 26
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.25%
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Cusip: | 17291RJE3
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