Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $868,000 dual directional barrier notes on gold ETF
Chicago, May 24 – Citigroup Global Markets Holdings Inc. priced $868,000 of 0% dual directional barrier securities due Jan. 3, 2025 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the fund finishes at or above its initial price, the payout at maturity will be par plus the gain, capped at par plus 35%.
If the fund falls by up to 41.5%, the payout will be par plus the absolute value of the fund return.
Otherwise, investors will receive a number of shares of the underlying fund equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional barrier securities
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| Underlying fund: | VanEck Vectors Gold Miners ETF
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| Amount: | $868,000
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| Maturity: | Jan. 3, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund gains, par plus return, capped at par plus 35%; if index falls by up to 41.5%, par plus absolute value of fund return; otherwise, 36.52301 fund shares per note or, at issuer’s option, cash equivalent
|
| Initial value: | $27.38
|
| Barrier value: | $16.017, 58.5% of initial value
|
| Pricing date: | June 30, 2022
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| Settlement date: | July 6, 2022
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17330DFS0
|
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