Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $49,000 0% buffer securities linked to Nasdaq-100, Russell 2000
New York, March 19 – Citigroup Global Markets Holdings Inc. priced $49,000 of 0% buffer securities due Jan. 3, 2025 linked to the Nasdaq-100 index and Russell 2000 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 200% of the worst performing index return subject to a maximum return of par plus 22%. Investors will receive par if the worst performing index declines but ends above the 20% buffer and will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 index and Russell 2000 index
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Amount: | $49,000
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Maturity: | Jan. 3, 2025
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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 200% of worst performing index return subject to a maximum return of par plus 22%; par if worst performing index declines but finishes above the 20% buffer; otherwise exposure to decline in worst performing index beyond buffer
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Upside leverage: | 200%
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Cap: | 22%
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Initial levels: | 15,179.21 for Nasdaq-100 index, 1,888.734 for Russell 2000 index
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Buffer: | 20%
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Buffer levels: | 12,143.368 for Nasdaq-100 index, 1,510.987 for Russell 2000 index, 80% of initial level
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Call: | Non-callable
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Pricing date: | June 30, 2023
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Settlement date: | July 6, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.85%
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Cusip: | 17291RCT7
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