By Kiku Steinfeld
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $315,000 of 0% upturn securities due March 20, 2025 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout will be par plus 200% of the ETF return capped at par plus 36.75%.
Investors will lose 1% for every 1% that the ETF declines if it ends below its initial level.
The securities are non-callable.
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: | Upturn securities
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Underlying ETF: | Financial Select Sector SPDR Fund
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Amount: | $315,000
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Maturity: | March 20, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF finishes at or above its initial value, par plus 200% of ETF return capped at 36.75%; otherwise exposure to decline of ETF
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Leverage: | 200%
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Cap: | 36.75%
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Initial level: | $30.98
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Call: | Non-callable
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Pricing date: | March 17, 2023
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Settlement date: | March 22, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.25%
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Cusip: | 17331H3U8
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