Published on 9/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $200,000 buffered digital notes linked to SPDR S&P 500 ETF
By Kiku Steinfeld
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $200,000 of 0% buffered digital notes due April 4, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the fund is greater than or equal to 89.2% of the initial level, the payout at maturity will be par plus 10%. Otherwise, investors will lose 1.1211% for every 1% that the fund declines beyond 10.8%, payable in 2.87463 shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as the placement agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffered digital notes
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Underlying fund: | SPDR S&P 500 ETF Trust
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Amount: | $200,000
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Maturity: | April 4, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final fund level is greater or equal to 89.2% of the initial level, par plus 10%; otherwise, 1.1211% loss for every 1% decline beyond 10.8%, payable in 2.87463 shares or cash at the issuer’s option
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Initial fund level: | $389.99
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Buffer level: | $347.871, 89.2%
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Pricing date: | March 17, 2023
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Settlement date: | March 22, 2023
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Underwriter: | Citigroup Global Markets Inc. with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agent
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Fees: | 1%
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Cusip: | 17331ABP5
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