By Wendy Van Sickle
Columbus, Ohio, April 28 – Citigroup Global Markets Holdings Inc. priced $12.3 million of 0% dual directional trigger PLUS due May 24, 2024 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return of par plus 28%.
Investors will receive a 1% gain for each 1% loss if the ETF declines but finishes at or above the 80% principal barrier and will lose 1% for every 1% decline if the ETF ends below its principal barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional trigger PLUS
|
| Underlying ETF: | VanEck Gold Miners ETF
|
| Amount: | $12,297,000
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| Maturity: | May 24, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If ETF return is positive, par plus 200% of ETF return, subject to a maximum return of par plus 28%; 1% gain for each 1% loss if ETF declines but ends at or above principal barrier; otherwise, full exposure to ETF decline from initial level
|
| Initial level: | $33.61
|
| Principal barrier: | $26.888, 80% of initial level
|
| Upside leverage: | 200%
|
| Cap: | 28%
|
| Pricing date: | April 21
|
| Settlement date: | April 26
|
| Agent: | Citigroup Global Markets Inc.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.25% including a structuring fee of 0.5%
|
| Cusip: | 17331HKD7
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