Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.07 million buffer securities linked to S&P 500
New York, March 26 – Citigroup Global Markets Holdings Inc. priced $1.07 million of 0% buffer securities due July 17, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of par plus 16.4%.
Investors will receive par if the index declines by no more than 10% and will lose 1% for every 1% that the index declines beyond 10%.
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 index: | S&P 500 index
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Amount: | $1,065,000
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Maturity: | July 17, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 200% of index return, subject to a maximum return of par plus 16.4%; par if index declines by no more than 10%; otherwise, lose 1% for every 1% that the index declines beyond 10%
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Initial level: | 5,117.09
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Buffer: | 10%
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Buffer level: | 4,605.381, 90% of initial level
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Strike date: | March 15
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Pricing date: | March 21
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Settlement date: | March 26
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0%
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Cusip: | 17331AYW5
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