Published on 3/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $3.56 million 16.55% equity-linked securities on Nvidia, Shopify, Trade Desk
By William Gullotti
Buffalo, N.Y., March 29 – Citigroup Global Markets Holdings Inc. priced $3.56 million of equity-linked securities due March 27, 2025 tied to the least performing of the shares of Nvidia Corp, Shopify Inc., and Trade Desk, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 16.55% per year, payable monthly.
If each stock finishes at or above 80% of its initial level, the payout at maturity will be par plus the final fixed coupon.
Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Equity-linked securities
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Underlying assets: | Nvidia Corp, Shopify Inc., Trade Desk, Inc.
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Amount: | $3,563,000
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Maturity: | March 27, 2025
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Coupon: | 16.55%, payable monthly
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Price: | Par
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Payout at maturity: | If each stock finishes at or above buffer, par plus final fixed coupon; otherwise, lose 1% for each 1% decline of the worst performer beyond 20%
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Initial levels: | $261.99 for Nvidia, $45.74 for Shopify, $59.24 for Trade Desk
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Buffer levels: | $209.592 for Nvidia, $36.592 for Shopify, $47.392 for Trade Desk; 80% of initial levels
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Strike date: | March 21
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Pricing date: | March 22
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Settlement date: | March 27
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.4%
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Cusip: | 17331HE28
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