Published on 11/15/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $397,000 0% buffer securities linked to S&P 500
By Kiku Steinfeld
Chicago, Nov. 15 – Citigroup Global Markets Holdings Inc. priced $397,000 of 0% buffer securities due March 20, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 100% of the index return subject to a maximum return of par plus 36.2%. Investors will receive par if the index declines but ends above the 20% buffer and will lose 1% for every 1% that the 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 index: | S&P 500 index
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Amount: | $397,000
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Maturity: | March 20, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 100% of index return subject to a maximum return of par plus 36.2%; par if index declines but finishes above the 20% buffer; otherwise exposure to decline in index beyond buffer
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Upside leverage: | 100%
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Cap: | 36.2%
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Initial level: | 4,357.86
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Buffer: | 20%
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Buffer level: | 3,486.288, 80% of initial level
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Call: | Non-callable
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Pricing date: | March 16
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Settlement date: | March 21
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.2%
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Cusip: | 17330AU75
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