Published on 11/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.19 million three-month dual digital securities on S&P index, SPDR ETF
By William Gullotti
Buffalo, N.Y., Nov. 10 – Citigroup Global Markets Holdings Inc. priced $1.19 million of 0% dual digital securities due Jan. 24, 2024 linked to the S&P 500 index and the SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be guaranteed by Citigroup Inc.
If the final value of the index is less than its final barrier value – 96% of the initial value – and the final value of the ETF is also less than its final barrier value – 93% of the initial value – then the payout at maturity will be the upper digital amount of $13,718.44 per $1,000 security.
If either of the upper digital payout conditions is not satisfied, investors will receive the lower digital payout of $234.55 per $1,000 security. In other words, if the index finishes at or above its final barrier or the ETF finishes at or above its final barrier, investors will lose 76.545% of their investment at maturity.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual digital securities
|
| Underlying assets: | S&P 500 index, SPDR Gold Trust
|
| Amount: | $1,194,000
|
| Maturity: | Jan. 24, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final value of both underlying assets is less than its respective final barrier, $13,718.44 per security; otherwise, $234.55 per security
|
| Initial values: | 4,158.2 for S&P, $185.68 for SPDR
|
| Final barriers: | 3,991.87, 96% of initial value, for S&P; $172.68, 93% of initial value, for SPDR
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17331M725
|
|
|
© 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.
