Published on 7/14/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $3.82 million contingent barrier digital notes on S&P 500
By William Gullotti
Buffalo, N.Y., July 14 – Citigroup Global Markets Holdings Inc. priced $3.82 million of 0% contingent barrier digital notes due July 26, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 80% barrier level, the payout at maturity will be par plus 11.44%. Otherwise, investors will lose 1% for every 1% decline from the index’s initial level.
The notes are guaranteed by Citigroup Inc.
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: | Contingent barrier digital notes
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Underlying index: | S&P 500 index
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Amount: | $3.82 million
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Maturity: | July 26, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above barrier level, par plus 11.44%; otherwise, lose 1% for every 1% of index decline from initial level
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Initial level: | 3,899.38
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Barrier level: | 3,119.504; 80% of initial level
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Pricing date: | July 8
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Settlement date: | July 13
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330PEW5
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