Published on 9/22/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $286,000 0% barrier securities linked to QQQ Trust
Chicago, Sept. 22 – Citigroup Global Markets Holdings Inc. priced $286,000 of 0% barrier securities due Sept. 21, 2027 linked to the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout at maturity will be par plus 110% of the ETF return. Investors will receive par if the ETF declines but ends above the 75% barrier and will lose 1% for every 1% that the ETF declines if it finishes below the barrier.
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: | Barrier securities
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Underlying ETF: | Invesco QQQ Trust, Series 1
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Amount: | $286,000
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Maturity: | Sept. 21, 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 110% of ETF return; par if ETF declines but finishes above the 75% barrier; otherwise, exposure to decline in ETF
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Initial level: | $289.32
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Final barrier: | $216.99, 75% of initial level
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Upside leverage: | 110%
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Cap: | None
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Call: | Non-callable
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Pricing date: | Sept. 16, 2022
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Settlement date: | Sept. 21, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.125%
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Cusip: | 17330RUT0
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