Published on 7/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.43 million dual directional buffer securities linked to S&P 500
New York, July 17 – Citigroup Global Markets Holdings Inc. priced $1.43 million of 0% dual directional buffer securities due Aug. 2, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 92% digital barrier, the payout will be par plus 8.85%.
The payout will be par plus the absolute value of the index return if the index declines beyond 8% but ends at or above the 86% buffer.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 14%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Dual directional buffer securities
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Underlying index: | S&P 500 index
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Amount: | $1,432,000
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Maturity: | Aug. 2, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above digital barrier, par plus 8.85%; par plus absolute value of index return if index declines by more than 8% but ends at or above 86% buffer level; otherwise, 1% loss for every 1% that index declines beyond 14%
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Initial level: | 4,450.38
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Digital barrier: | 4,094.35, 92% of initial level
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Buffer: | 14%
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Buffer level: | 3,827.327, 86% of initial level
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.43%
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Cusip: | 17291R6E7
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