Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 8.05% single observation ELKS tied to S&P ETF
Chicago, Aug. 29 – Citigroup Global Markets Holdings Inc. priced $500,000 of 8.05% annualized single observation Equity LinKed Securities due Aug. 24, 2023 linked to the shares of SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final price is less than 80% of the initial price, in which case the payout will be a number of shares equal to $10,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
The notes are guaranteed by Citigroup Inc.
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 ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $500,000
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| Maturity: | Aug. 24, 2023
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| Coupon: | 8.05% annual rate, payable monthly
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| Price: | Par of $10,000
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| Payout at maturity: | Par unless final share price is less than 80% of initial price, in which case investors will receive 23.68882 shares per security or the cash equivalent
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| Initial share price: | $422.14
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| Downside threshold: | $337.712; 80% of initial level
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| Pricing date: | Aug. 19, 2022
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| Settlement date: | Aug. 24, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330DHA7
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