Published on 5/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $250,000 buffered notes on Semiconductor ETF
By Kiku Steinfeld
Chicago, May 30 – Citigroup Global Markets Holdings Inc. priced $250,000 of 0% buffered notes due Jan. 24, 2025 tied to the VanEck Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the fund return is positive, the payout at maturity will be par plus double the gain, up to a maximum payout of par plus 35.1%.
If the fund finishes flat or falls by up to 25%, investors will receive par. Investors will lose 1.3333% for every 1% decline beyond 25%.
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: | Buffered notes
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| Underlying ETF: | VanEck Semiconductor ETF
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| Amount: | $250,000
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| Maturity: | Jan. 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund return is positive, par plus two times the gain, up to a maximum payout of par plus 35.1%; if fund finishes flat or falls by up to 25%, par; otherwise, 1.3333% loss for every 1% decline beyond 25%
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| Initial fund level: | $227.35
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| Buffer level: | $170.513, 75% of initial level
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| Pricing date: | Jan. 20, 2023
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| Settlement date: | Jan. 25, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17331CL21
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