Published on 7/31/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices £1 million contingent barrier digital notes on S&P 500
By William Gullotti
Buffalo, N.Y., July 31 – Citigroup Global Markets Holdings Inc. priced £1 million of 0% contingent barrier digital notes due Aug. 5, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 80% barrier level, the payout at maturity will be par plus 8%. Otherwise, investors will lose 1% for every 1% decline from the index’s initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent barrier digital notes
|
| Underlying index: | S&P 500 index
|
| Amount: | £1 million
|
| Maturity: | Aug. 5, 2024
|
| Coupon: | 0%
|
| Price: | Par of £1,000
|
| Payout at maturity: | If index finishes at or above barrier level, par plus 8%; otherwise, lose 1% for every 1% of index decline from initial level
|
| Initial level: | 4,565.72
|
| Barrier level: | 3,652.576; 80% of initial level
|
| Strike date: | July 19
|
| Pricing date: | July 21
|
| Settlement date: | July 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 5C03JK9Z3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
