Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $19.47 million PLUS linked to S&P 500
New York, Nov. 22 – Citigroup Global Markets Holdings Inc. priced $19.47 million of 0% PLUS due Nov. 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of par plus 31.8%.
Investors will be fully exposed to any index decline.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | PLUS
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Underlying index: | S&P 500 index
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Amount: | $19,471,930
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Maturity: | Nov. 5, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 200% of index return, subject to a maximum return of par plus 31.8%; otherwise, 1% loss for every 1% that index declines from initial level
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Initial level: | Lowest index closing level between Oct. 31 and Nov. 28, inclusive
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Upside leverage: | 200%
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Cap: | 31.8%
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Pricing date: | Oct. 31
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Settlement date: | Nov. 3
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Agent: | Citigroup Global Markets Inc.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.5% including a structuring fee of 0.5%
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Cusip: | 17330U868
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