Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $575,000 contingent barrier digital notes on S&P 500
Chicago, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $575,000 of 0% contingent barrier digital notes due Nov. 7, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 70% barrier level, the payout at maturity will be par plus 10.6%. Otherwise, investors will lose 1% for every 1% decline from the 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 index: | S&P 500 index
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Amount: | $575,000
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Maturity: | Nov. 7, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above barrier level, par plus 10.6%; otherwise, lose 1% for every 1% of index decline from initial level
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Initial level: | 3,665.78
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Barrier level: | 2,566.046; 70% of initial level
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Strike date: | Oct. 20, 2022
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Pricing date: | Oct. 21, 2022
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Settlement date: | Oct. 26, 2022
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330Y5Z9
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