Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 buffered digital notes on SPDR S&P 500 ETF Trust
Chicago, May 12 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% buffered digital notes due July 5, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the ETF is greater than or equal to its final buffer value, 90% of its initial level, the payout at maturity will be par plus 12.85%.
Otherwise, investors will lose 1.1111% for each 1% decline of the ETF beyond the 10% buffer.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffered digital notes
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Underlying fund: | SPDR S&P 500 ETF Trust
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Amount: | $500,000
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Maturity: | July 5, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final ETF level is greater or equal to 90% of its initial level, par plus 12.85%; otherwise, 1.1111% loss for each 1% decline beyond 10% buffer
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Initial ETF level: | $366.65
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Buffer value: | $329.985; 90% of initial level
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Strike date: | June 16, 2022
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Pricing date: | June 17, 2022
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Settlement date: | June 23, 2022
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330PLX5
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