Published on 4/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.71 million contingent fixed return market-linked notes with downside on S&P
By William Gullotti
Buffalo, N.Y., April 18 – Citigroup Global Markets Holdings Inc. priced $1.71 million of 0% market-linked securities – contingent fixed return and contingent downside due Feb. 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 23.5% if the index finishes at or above its initial level.
If the index declines but finishes at or above its 70% barrier, the payout will be par. Otherwise, investors will be fully exposed to index decline.
The notes are guaranteed by Citigroup Inc.
Wells Fargo Securities LLC and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities – contingent fixed return and contingent downside
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| Underlying index: | S&P 500 index
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| Amount: | $1,713,000
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| Maturity: | Feb. 3, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above initial level, par plus 23.5%; if index falls by up to 30%, par; otherwise, full exposure to index decline from initial level
|
| Initial level: | 4,076.6
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| Barrier level: | 2,853.62; 70% of initial level
|
| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
|
| Agents: | Wells Fargo Securities LLC and Citigroup Global Markets Inc.
|
| Fees: | 2.325%
|
| Cusip: | 17330YXH8
|
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