By Kiku Steinfeld
Chicago, Sept. 6 – Citigroup Global Markets Holdings Inc. priced $703,000 of 0% bearish buffer securities due March 5, 2026linked to the Invesco DB US Dollar Index Bullish Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the the final level of the ETF is less than or equal to its initial level, the payout at maturity will be plus 2.35 times the absolute value of the return of the ETF.
If the ETF finishes flat or gains by no more than 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% increase of the ETF beyond 15%.
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: | Bearish buffer securities
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Underlying fund: | Invesco DB US Dollar Index Bullish Fund
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Amount: | $703,000
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Maturity: | March 5, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of the ETF is less than or equal to initial level, par plus 2.35 times the absolute value of the ETF return; if the ETF finishes flat or gains by no more than 15%, par; otherwise, investors will lose 1% for every 1% increase of the ETF above 15%
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Initial level: | $28.42
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Buffer level: | $32.683; 115% of initial level
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Pricing date: | Feb. 28, 2023
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Settlement date: | March 3, 2023
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17331CTD9
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