Published on 12/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.58 million buffered notes linked to index basket
By Angela McDaniels
Tacoma, Wash., Dec. 7 – Citigroup Global Markets Holdings Inc. priced $2.58 million of 0% buffered equity index basket-linked notes due April 25, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying basket includes the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with a 9% weight.
If the basket return is positive, the payout at maturity will be par plus 200% of the basket return, subject to a maximum settlement amount of $1,460 for each $1,000 principal amount of notes.
If the basket return is zero or negative but not below negative 15%, the payout will be par.
If the basket return is below negative 15%, investors will lose 1.1765% for each 1% that the basket declines beyond 15%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffered equity index basket-linked notes
|
| Underlying indexes: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight) and S&P/ASX 200 (9% weight)
|
| Amount: | $2,581,000
|
| Maturity: | April 25, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 200% of basket return, subject to maximum return of 46%; if basket return is zero or negative but not below negative 15%, par; if basket return is below negative 15%, 1.1765% loss for each 1% that basket declines beyond 15%
|
| Initial levels: | 4,285.42 for Euro Stoxx, 1,983.32 for Topix, 7,620.43 for FTSE, 11,032.21 for Swiss Market and 7,122.336 for S&P/ASX
|
| Buffer level: | 85% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 6
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
| Cusip: | 17331H3T1
|
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