Published on 1/31/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $559,000 enhanced barrier digital notes linked to three stocks
Chicago, Jan. 31 – Citigroup Global Markets Holdings Inc. priced $559,000 of 0% enhanced barrier digital securities due Aug. 3, 2023 linked to the worst performing of the common stocks of Apple Inc., Bank of America Corp. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lesser-performing stock is greater than or equal to its final barrier level, 75% of its initial level, the payout at maturity will be par plus 23.9%. Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying declines from its 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: | Enhanced barrier digital securities
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Underlying stocks: | Apple Inc., Bank of America Corp. and JPMorgan Chase & Co.
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Amount: | $559,000
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Maturity: | Aug. 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of lesser-performing underlying is greater than or equal to final barrier level, par plus 23.9%; otherwise, 1% loss for every 1% that lesser-performing underlying declines from initial level
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Initial levels: | $157.65 for Apple, $35.68 for BofA, $119.36 for JPMorgan
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Final barrier levels: | $118.238 for Apple, $26.76 for BofA, $89.52 for JPMorgan, or 75 % of initial levels
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Pricing date: | April 29, 2022
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Settlement date: | May 4, 2022
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330FHX2
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