Published on 11/16/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.01 million digital buffered equity notes linked to weighted index basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 16 – Citigroup Global Markets Holdings Inc. priced $2.01 million of 0% digital buffered equity notes due May 24, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with a 9% weight.
The notes are guaranteed by Citigroup Inc.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 180% of the basket return up to par plus 43.92%.
If the basket declines no farther than the 85% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1.1765% for every 1% of basket decline beyond 15%.
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: | Digital buffered equity notes
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| Underlying indexes: | Euro Stoxx 50 index (36% weight), Topix index (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight), S&P/ASX 200 index (9% weight)
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| Amount: | $2,014,000
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| Maturity: | May 24, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket finishes at or above initial level, par plus 180% of the basket return up to par plus 43.92%; if the basket falls up to 15%, par; otherwise, 1.1765% loss for every 1% decline beyond buffer
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| Initial levels: | 3,739.28 for Stoxx, 1,957.56 for Topix, 7,306.14 for FTSE, 10,827.04 for Swiss Market, 6,958.871 for S&P/ASX
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| Buffer level: | 85% of initial level
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| Pricing date: | Nov. 8
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| Settlement date: | Nov. 16
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17330Y6J4
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