Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 enhanced barrier digital securities linked to SPDR funds
New York, Sept. 26 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% enhanced barrier digital securities due Sept. 29, 2023 linked to the common stocks of Communication Services Select Sector SPDR Fund, Financial Select Sector SPDR Fund and Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing stock finishes above its 70% final barrier then the payout at maturity will be par plus the 16.75% digital payment. Otherwise the notes will pay par less 1% for every 1% decline of the worst performing stock.
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: | Enhanced barrier digital securities
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| Underlying stocks: | Communication Services Select Sector SPDR Fund, Financial Select Sector SPDR Fund and Technology Select Sector SPDR Fund
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| Amount: | $500,000
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| Maturity: | Sept. 29, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its 70% final barrier, par plus 16.75% digital return; 1% loss for every 1% that worst performing stock declines if it finishes below its final barrier
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| Initial levels: | $50.08 for Communication Services Select Sector SPDR Fund, $31.55 for Financial Select Sector SPDR Fund, $125.38 for Technology Select Sector SPDR Fund
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| Upside payment: | 16.75%
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| Final barriers: | $35.056 for Communication Services Select Sector SPDR Fund, $22.085 for Financial Select Sector SPDR Fund, $87.766 for Technology Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Sept. 23, 2022
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| Settlement date: | Sept. 28, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17330RRZ0
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