Published on 2/6/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $980,000 digital notes linked to Alibaba
Chicago, Feb. 6 – Citigroup Global Markets Holdings Inc. priced $980,000 of 0% digital notes due Nov. 22, 2023 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes flat or gains, the payout at maturity will be par plus 24.9%.
Otherwise, investors will receive a fixed number of shares per note equal to $10,000 divided by the stock’s initial level or, if a settlement disruption occurs, the cash equivalent.
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: | Digital notes
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| Underlying stock: | Alibaba Group Holding Ltd. (Ticker: BABA)
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| Amount: | $980,000
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| Maturity: | Nov. 22, 2023
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| Coupon: | 0%
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| Price: | Par of $10,000
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| Payout at maturity: | If stock finishes flat or gains, par plus 24.9%; otherwise, 112.66336 shares per note or, if a settlement disruption occurs, the cash equivalent
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| Initial level: | $88.76
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| Digital payment: | 24.9%
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| Strike date: | May 16, 2023
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| Pricing date: | May 17, 2023
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| Settlement date: | May 22, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17331AFW6
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