By Kiku Steinfeld
Chicago, April 4 – Citigroup Global Markets Holdings Inc. priced $262,000 of 0% dual directional buffer securities due Jan. 19, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout will be par plus 110% of the index return subject to a maximum return of par plus 21.8%.
The payout will be par plus half of the absolute value of the index return if the index declines but ends above the 90% buffer.
Investors will lose 1% for every 1% that the index declines beyond the buffer.
The securities are non-callable.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Dual directional buffer securities
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Underlying index: | Russell 2000 index
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Amount: | $262,000
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Maturity: | Jan. 19, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 110% of index return subject to a maximum return of par plus 21.8%; par plus half absolute value of index return if index declines but ends above 90% buffer level; 1% loss for every 1% that index declines beyond buffer
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Upside leverage: | 110%
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Cap: | 21.8%
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Buffer: | 10%
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Buffer level: | 1,649.1258, 90% of initial level
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Call: | Non-callable
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Initial level: | 1,832.362
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Pricing date: | Dec. 13
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Settlement date: | Dec. 16
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.43%
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Cusip: | 17330YV23
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