Published on 3/13/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.04 million barrier securities linked to Dow, S&P
New York, March 13 – Citigroup Global Markets Holdings Inc. priced $1.04 million of 0% barrier securities due March 11, 2027 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout at maturity will be par plus 103% of that index’s return.
Investors will receive par if the worst performing index declines but ends at or above the 55.2% barrier and will lose 1% for every 1% that the worst performing index 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 securities
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Underlying indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $1.04 million
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Maturity: | March 11, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus 103% of that index’s return; par if worst performing index declines but finishes at or above the 55.2% barrier; otherwise, full exposure to decline of worst performing index from initial level
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Initial levels: | 32,798.40 for Dow Jones industrial average, 3,992.01 for S&P 500 index
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Final barriers: | 18,104.717 for Dow Jones industrial average, 2,203.590 for S&P 500 index, 55.2% of initial level
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Pricing date: | March 8
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Settlement date: | March 13
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.75%
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Cusip: | 17331CYL5
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