Published on 3/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1 million contingent barrier digital notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 28 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% contingent barrier digital notes due April 25, 2024 linked to the performance of the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index finishes at or above its 65% barrier level, the payout at maturity will be par plus 9.65%. Otherwise, investors will lose 1% for every 1% decline from the lesser-performing index’s initial level.
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: | Contingent barrier digital notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $1 million
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| Maturity: | April 25, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser-performing index finishes at or above barrier level, par plus 9.65%; otherwise, lose 1% for every 1% of lesser-performing index decline from initial level
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| Initial level: | 1,725.891 for Russell, 3,916.64 for S&P
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| Barrier level: | 1,121.829 for Russell, 2,545.816 for S&P; 65% of initial level
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| Strike date: | March 17
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17331HS24
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