Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $592,000 0% buffer securities linked to three funds
Chicago, May 24 – Citigroup Global Markets Holdings Inc. priced $592,000 of 0% buffer securities due July 2, 2026 linked to the worst performing of the Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains the payout at maturity will be par plus 160% of the worst performing ETF return. Investors will receive par if the worst performing ETF declines but ends above the 10% buffer and will lose 1% for every 1% that the worst performing ETF declines beyond the buffer, payable as shares or cash with the buffer paid in cash.
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
|
| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
|
| Amount: | $592,000
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| Maturity: | July 2, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If worst performing ETF gains, par plus 160% of worst performing ETF return; par if worst performing ETF declines but finishes above the 10% buffer; otherwise, exposure to decline in worst performing ETF beyond buffer, payable as shares (or cash) and then with the buffer paid in cash
|
| Upside leverage: | 160%
|
| Cap: | None
|
| Initial levels: | $283.80 for Invesco, $380.34 for S&P ETF, $170.69 for Russell ETF
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| Buffer levels: | $255.420 for Invesco, $342.306 for S&P ETF, $153.621 for Russell ETF, 90% of initial levels
|
| Equity ratios: | 3.52361 for Invesco, 5.85857 for S&P ETF, 2.62923 for Russell ETF
|
| Buffer: | 10%
|
| Call: | Non-callable
|
| Pricing date: | June 29, 2022
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| Settlement date: | July 5, 2022
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.85%
|
| Cusip: | 17330DHM1
|
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