Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $650,000 0% buffer securities linked to S&P 500 Equal Weight ETF
Chicago, Oct. 12 – Citigroup Global Markets Holdings Inc. priced $650,000 of 0% buffer securities due Oct. 3, 2025 linked to the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout at maturity will be par plus 107% of the ETF return. Investors will receive par if the ETF declines but ends above the 10% buffer and will lose 1% for every 1% that the ETF declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying ETF: | Invesco S&P 500 Equal Weight ETF
|
| Amount: | $650,000
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| Maturity: | Oct. 3, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF gains, par plus 107% of ETF return; par if ETF declines but finishes above the 10% buffer; otherwise, exposure to decline in ETF beyond buffer
|
| Initial level: | $131.16
|
| Buffer level: | $118.044, 90% of initial level
|
| Upside leverage: | 107%
|
| Cap: | None
|
| Buffer: | 10%
|
| Call: | Non-callable
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| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17330RJT3
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