Published on 6/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $125,000 0% buffer securities linked to SPDR Gold Trust
By Kiku Steinfeld
Chicago, June 26 – Citigroup Global Markets Holdings Inc. priced $125,000 of 0% buffer securities due Feb. 5, 2025 linked to the common fund of SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund gains, the payout at maturity will be par plus 200% of the fund return subject to a maximum return of par plus 21%. Investors will receive par if the fund declines but ends above the 10% buffer and will lose 1% for every 1% that the fund declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Buffer securities
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| Underlying fund: | SPDR Gold Trust
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| Amount: | $125,000
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| Maturity: | Feb. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund gains, par plus 200% of fund return subject to a maximum return of par plus 21%; par if fund declines but finishes above the 10% buffer; otherwise exposure to decline in fund beyond buffer
|
| Upside leverage: | 200%
|
| Cap: | 21%
|
| Initial level: | $179.41
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| Buffer: | 10%
|
| Buffer level: | $161.469, 90% of initial level
|
| Call: | Non-callable
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| Pricing date: | Jan. 31, 2023
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| Settlement date: | Feb. 3, 2023
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17331CER4
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