Published on 12/20/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.5 million buffered digital notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 20 – Citigroup Global Markets Holdings Inc. priced $2.5 million of 0% buffered digital basket-linked notes due June 18, 2025 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of 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 an 12% weight and the S&P/ASX 200 index with an 9% weight.
If the basket return is greater than or equal to negative 10%, the payout at maturity will be $1,156.10 per $1,000 principal amount of notes.
If the basket return is below negative 10%, investors will lose 1.1111% for every 1% that the basket declines beyond 10%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffered digital basket-linked notes
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Underlying basket: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight), S&P/ASX 200 (9% weight)
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Amount: | $2.5 million
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Maturity: | June 18, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is greater than or equal to negative 10%, par plus 15.61%; otherwise, par minus 1.1111% for every 1% that basket declines beyond 10%
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Initial levels: | 4,539.16 for Stoxx, 2,321.35 for Topix, 7,648.98 for FTSE, 11,209.95 for Swiss Market, 7,377.856 for S&P/ASX
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Buffer level: | 90% of initial level
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Pricing date: | Dec. 15
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Settlement date: | Dec. 22
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.51%
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Cusip: | 17291TQP6
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