Published on 8/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $80,000 0% buffer securities linked to industrial fund
Chicago, Aug. 10 – Citigroup Global Markets Holdings Inc. priced $80,000 of 0% buffer securities due Jan. 30, 2025 linked to the Industrial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout at maturity will be par plus 150% of the ETF return subject to a maximum return of par plus 18.7%. Investors will receive par if the ETF declines but ends above the 15% buffer and will lose 1% for every 1% that the ETF declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Buffer securities
|
| Underlying ETF: | Industrial Select Sector SPDR Fund
|
| Amount: | $80,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains, par plus 150% of ETF return subject to a maximum return of par plus 18.7%; par if ETF declines but finishes above the 15% buffer; otherwise, exposure to decline in ETF beyond buffer
|
| Initial level: | $110.43
|
| Buffer level: | $93.8655, 85% of initial level
|
| Upside leverage: | 150%
|
| Cap: | 18.7%
|
| Buffer: | 15%
|
| Call: | Non-callable
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| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.5%
|
| Cusip: | 17291RQR6
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