Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $19.63 million index-linked notes on S&P 500
Chicago, July 14 – Citigroup Global Markets Holdings Inc. priced $19.63 million of 0% index-linked notes due Jan. 14, 2025 linked to 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 index finishes above its initial level, the payout at maturity will be par plus three times the return of the index, subject to a maximum return of 19.29%.
Investors will be fully exposed to any decline of the 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: | Index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $19,627,000
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Maturity: | Jan. 14, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus three times index return, subject to 19.29% cap; otherwise, full exposure to losses of worst performer
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Initial index level: | 4,409.53
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Pricing date: | July 10
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Settlement date: | July 17
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Underwriters: | Citigroup Global Markets Inc.
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Fees: | 1.51%
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Cusip: | 17291RK50
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