Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citi sells $401,000 enhanced barrier digital securities on Dow, S&P, Russell
By Kiku Steinfeld
Chicago, April 18 – Citigroup Global Markets Holdings Inc. priced $401,000 of 0% enhanced barrier digital securities due Aug. 22, 2024 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the final level of each index is greater than or equal to 70% of its initial level, the payout at maturity will be par plus 9.75%.
If any index falls by more than 30%, the payout will be par plus the return of the worst performing index with full exposure to losses.
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: | Enhanced barrier digital securities
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Underlying indexes: | S&P 500 index, Dow Jones industrial average, Russell 2000 index
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Amount: | $401,000
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Maturity: | Aug. 22, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of each index is greater than 70% of its initial level, par plus 9.75%; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
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Initial levels: | 34,261.42 for Dow, 4,439.26 for S&P, 1,913.361 for Russell
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Barrier levels: | 23,982.994 for Dow, 3,107.48 for S&P, 1,339.353 for Russell; 70% of initial levels
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Pricing date: | July 17, 2023
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Settlement date: | July 20, 2023
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.22%
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Cusip: | 17291RHZ8
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