Published on 8/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7,000 0% buffer securities linked to SPDR Dow
By Kiku Steinfeld
Chicago, Aug. 28 – Citigroup Global Markets Holdings Inc. priced $7,000 of 0% buffer securities due Feb. 29, 2028 linked to the SPDR Dow Jones industrial average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains, the payout at maturity will be par plus 100% of the ETF return subject to a maximum return of par plus 80%. Investors will receive par if the ETF declines but ends above the 15% buffer and will lose 1% for every 1% that the ETF declines beyond the buffer, payable in shares or cash at the issuer’s option.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Buffer securities
|
Underlying ETF: | SPDR Dow Jones industrial average ETF Trust
|
Amount: | $7,000
|
Maturity: | Feb. 29, 2028
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If ETF gains, par plus 100% of ETF return subject to a maximum return of par plus 80%; par if ETF declines but finishes above the 15% buffer; otherwise exposure to decline in ETF beyond buffer, payable in shares or cash at the issuer’s option
|
Upside leverage: | 100%
|
Cap: | 80%
|
Initial level: | $328.12
|
Buffer: | 15%
|
Buffer level: | $278.902, 85% of initial level
|
Call: | Non-callable
|
Pricing date: | Feb. 24, 2023
|
Settlement date: | March 1, 2023
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 3%
|
Cusip: | 17331AAD3
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.