Published on 7/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $11.37 million buffered index-linked notes tied to S&P 500
By William Gullotti
Buffalo, N.Y., July 10 – Citigroup Global Markets Holdings Inc. priced $11.37 million of 0% buffered index-linked notes due April 16, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The payout at maturity will be par plus 200% of any index gain, up to a maximum settlement amount of par plus 28.9%.
Investors will receive par if the index falls by up to the 17.5% buffer and will lose 1.2121% for each 1% decline beyond the buffer.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffered index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $11,369,000
|
| Maturity: | April 16, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus 200% of index return, subject to maximum payment of $1,289 per $1,000 principal amount; par if index falls by up to 17.5%; otherwise, 1.2121% loss for every 1% decline in index beyond 17.5%
|
| Initial index level: | 3,982.24
|
| Buffer level: | 82.5% of initial level
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 6
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17331CV79
|
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