Published on 5/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $500,000 leveraged market-linked notes with buffered downside on Nasdaq, S&P
By Kiku Steinfeld
Chicago, May 10 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 5, 2028 linked to the worst performing of the Nasdsaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 200% of any worst performing index gain, capped at 63.5%
Investors will receive par if the worst performing index falls by up to 20%. Otherwise, investors will be fully exposed to the decline of the worst performing index beyond the 20% buffer.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying indexes: | Nasdsaq-100 index, S&P 500 index
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| Amount: | $500,000
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| Maturity: | Jan. 5, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 200% of any worst performing index gain, capped at 63.5%; par if the worst performing index falls by up to 20%; full exposure decline of worst performing index beyond buffer
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| Initial index levels: | 10,939.76 for Nasdaq, 3,839.50 for S&P
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| Final buffer levels: | 8,751.808 for Nasdaq, 3,071.60 for S&P, 80% of initial levels
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| Pricing date: | Dec. 30, 2022
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| Settlement date: | Jan. 5, 2023
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 3.62%
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| Cusip: | 17331C3J4
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