Published on 9/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $135,000 0% buffer securities linked to S&P 500 ETF
Chicago, Sept. 7 – Citigroup Global Markets Holdings Inc. priced $135,000 of 0% buffer securities due Aug. 31, 2027 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout at maturity will be par plus the ETF return subject to a maximum return of par plus 60%. Investors will receive par if the ETF declines but ends above the 27% buffer and will lose 1% for every 1% that the ETF declines beyond the buffer, payable in cash or shares at the issuer’s option.
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: | Buffer securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $135,000
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| Maturity: | Aug. 31, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains, par plus ETF return subject to a maximum return of par plus 60%; par if ETF declines but finishes above the 27% buffer; otherwise, exposure to decline in ETF beyond buffer, payable as 2.46725 shares plus $270 cash buffer or entirely in cash at issuer’s option
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| Initial level: | $405.31
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| Buffer level: | $295.8763, 73% of initial level
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| Upside leverage: | 100%
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| Cap: | 60%
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| Buffer: | 27%
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| Call: | Non-callable
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17330DGN0
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