Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $10.13 million market-linked notes on commodity basket
By Kiku Steinfeld
Chicago, July 14 – Citigroup Global Markets Holdings Inc. priced $10.13 million of 0% market-linked notes due Feb. 27, 2026 linked to an equally weighted basket of commodities and commodity futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The basket consists of the West Texas Intermediate light sweet crude oil futures contract, ICE Brent Crude futures contract, corn futures contract, soybean futures contract, gold and copper.
The payout at maturity will be par plus 1.15 times any basket gain. Otherwise, investors will receive par.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Market-linked notes
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Underlying basket: | West Texas Intermediate light sweet crude oil futures contract, ICE Brent Crude futures contract, corn futures contract, soybean futures contract, gold and copper; equal weights
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Amount: | $10,127,000
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Maturity: | Feb. 27, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.15 times any basket gain; otherwise, par
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Initial level: | $76.32 for WTI, $83.16 for Brent, $6.50 for corn, $15.29 for soybeans, $8,807 for copper, $1,810.95 for gold
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Pricing date: | Feb. 24
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Settlement date: | Feb. 28
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Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc
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Fees: | 2.5%
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Cusip: | 17331CNL7
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