Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $704,000 0% barrier securities linked biotech ETF
Chicago, May 17 – Citigroup Global Markets Holdings Inc. priced $704,000 of 0% barrier securities due June 24, 2027 linked to the SPDR S&P Biotech ETF, 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 44%. Investors will receive par if the ETF declines but ends above the 50% barrier and will lose 1% for every 1% that the ETF declines if it finishes below the barrier, payable as 14.27959 shares or cash at the issuer’s election.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Barrier securities
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| Underlying ETF: | SPDR S&P Biotech ETF
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| Amount: | $704,000
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| Maturity: | June 24, 2027
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF gains, par plus 200% of ETF return subject to a maximum return of par plus 44%; par if ETF declines but finishes above the 50% barrier; otherwise, exposure to decline in ETF, payable in cash or shares at issuer’s election
|
| Upside leverage: | 200%
|
| Cap: | 44%
|
| Initial level: | $70.03
|
| Final barrier: | $35.015, 50% of initial level
|
| Equity ratio: | 14.27959 shares
|
| Call: | Non-callable
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| Pricing date: | June 21, 2022
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| Settlement date: | June 24, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17330DGG5
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