Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $815,000 0% barrier securities linked to S&P 500
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $815,000 of 0% barrier securities due June 26, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout at maturity will be par plus 200% of the index return subject to a maximum return of par plus 38%. Investors will receive par if the index declines but ends above the 70% barrier and will lose 1% for every 1% that the index declines if it finishes below the barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $815,000
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| Maturity: | June 26, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus 200% of index return subject to a maximum return of par plus 38%; par if index declines but finishes above the 70% barrier; otherwise, exposure to decline in index
|
| Initial level: | 3,795.73
|
| Final barrier: | 2,657.011, 70% of initial level
|
| Upside leverage: | 200%
|
| Cap: | 38%
|
| Call: | Non-callable
|
| Pricing date: | June 23, 2022
|
| Settlement date: | June 28, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17330PH44
|
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