Published on 3/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.65 million buffered index-linked notes tied to S&P 500
By William Gullotti
Buffalo, N.Y., March 29 – Citigroup Global Markets Holdings Inc. priced $3.65 million of 0% buffered index-linked notes due Aug. 21, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The payout at maturity will be par plus 200% of any index gain, up to a maximum settlement amount of par plus 20%.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% 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: | Buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $3,646,000
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Maturity: | Aug. 21, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, subject to maximum payment of $1,200 per $1,000 principal amount; par if index falls by up to 15%; otherwise, 1.1765% loss for every 1% decline in index beyond 15%
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Initial index level: | 3,936.97
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Buffer level: | 85% of initial level
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Pricing date: | March 22
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Settlement date: | March 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | None
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Cusip: | 17331H5Z5
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