Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $152,000 0% buffer securities linked to S&P ETF
Chicago, April 24 – Citigroup Global Markets Holdings Inc. priced $152,000 of 0% buffer securities due Nov. 29, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout at maturity will be par plus 200% of the ETF return subject to a maximum return of par plus 25%. Investors will receive par if the ETF declines but ends above the 14% buffer and will lose 1% for every 1% that the ETF declines beyond the buffer, payable as shares or cash at the issuer’s option.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying ETF: | SPDR S&P 500 ETF Trust
|
| Amount: | $152,000
|
| Maturity: | Nov. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF gains, par plus 200% of ETF return subject to a maximum return of par plus 25%; par if ETF declines but finishes above the 14% buffer; otherwise, exposure to decline in ETF beyond buffer, payable as shares or cash at issuer’s option
|
| Upside leverage: | 200%
|
| Cap: | 25%
|
| Initial level: | $393.89
|
| Buffer: | 14%
|
| Buffer level: | $338.7454, 86% of initial level
|
| Equity ratio: | 2.53878 shares
|
| Call: | Non-callable
|
| Pricing date: | May 24, 2022
|
| Settlement date: | May 27, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17330DAF3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
