Published on 4/3/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.02 million enhanced barrier digital securities linked to S&P 500
New York, April 3 – Citigroup Global Markets Holdings Inc. priced $5.02 million of 0% enhanced barrier digital securities due April 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 85% final barrier, then the payout at maturity will be par plus the 10.75% digital payment.
Otherwise the notes will pay par less 1% for every 1% decline of the index.
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: | Enhanced barrier digital securities
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Underlying index: | S&P 500 index
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Amount: | $5,024,000
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Maturity: | April 4, 2024
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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 its 85% final barrier, par plus 10.75% digital return; otherwise, 1% loss for every 1% that index declines from initial level
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Initial level: | 3,970.99
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Upside payment: | 10.75%
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Final barrier: | 3,375.342, 85% of initial level
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Pricing date: | March 24
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Settlement date: | March 29
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17331HEP7
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