Published on 10/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $840,000 dual directional barrier digital plus notes on three indexes
By Kiku Steinfeld
Chicago, Oct. 25 – Citigroup Global Markets Holdings Inc. priced $840,000 of 0% dual directional barrier digital plus securities due April 3, 2028 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worst performing index finishes at or above its initial level, the payout at maturity will be par plus the greater of the digital return amount of 49.5% and the return of the least performing index.
If the worst performing index falls by up to 30%, the payout will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will be fully exposed to the decline of the least performing index.
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: | Dual directional barrier digital plus securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $840,000
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| Maturity: | April 3, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performing index finishes at or above its initial level, par plus the greater of the digital return amount of 49.5% and the return of the least performing index; if the worst performing index falls by up to barrier level, par plus the absolute value of the return of the worst performing index; otherwise, full exposure to decline of the least performing index
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| Initial levels: | 4,027.81 for S&P, 12,846.03 for Nasdaq, 1,771.599 for Russell
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| Barrier levels: | 2,819.467 for S&P, 8,992.221 for Nasdaq, 1,240.119 for Russell; 70% of initial levels
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| Pricing date: | March 29, 2023
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| Settlement date: | April 3, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17331H4D5
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