Published on 7/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $571,000 9% single observation ELKS on Target
By Kiku Steinfeld
Chicago, July 31 – Citigroup Global Markets Holdings Inc. priced $571,000 of 9% single observation Equity Linked Securities due Feb. 23, 2024 linked to Target Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par in cash unless the stock finishes below the 70% downside threshold level, in which case investors will receive Target shares equal to $1,000 divided by the initial share price.
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: | Single observation Equity Linked Securities
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| Underlying stock: | Target Corp.
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| Amount: | $571,000
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| Maturity: | Feb. 23, 2024
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| Coupon: | 9%, payable monthly
|
| Price: | Par
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| Payout at maturity: | If stock finishes below downside threshold price, 6.01612 Target shares; otherwise, par in cash
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| Initial level: | $166.22
|
| Downside threshold: | $116.354, 70% of initial price
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| Equity ratio: | 6.01612
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| Pricing date: | Feb. 21, 2023
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| Settlement date: | Feb. 24, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17331ADQ1
|
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