Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $500,000 dual directional buffer securities on Nasdaq, Russell, S&P
Chicago, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% dual directional buffer securities due Nov. 9, 2023 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index’s final level is greater than its initial level, the payout at maturity will be par plus the least performing index’s return, subject to a maximum return of par plus 21.85%.
If the least performing index’s final level is less than or equal to its initial level but greater than or equal to its final buffer level, 80% of its initial level, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will lose 1% for every 1% that the worst performer declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
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: | Dual directional buffer securities
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $500,000
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| Maturity: | Nov. 9, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index’s final level is greater than or equal to initial level, par plus the least performing index’s return, subject to 21.85% cap; if the least performing index’s final level is less than initial level but greater than or equal to final buffer level, par plus absolute value of that index’s return; otherwise, 1% loss for every 1% that the worst performer declines beyond 20%
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| Initial levels: | 11,229.73 for Nasdaq, 1,708.87 for Russell, 3,678.43 for S&P
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| Buffer levels: | 8,983.784 for Nasdaq, 1,367.096 for Russell, 2,942.744 for S&P; 80% of initial levels
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| Strike date: | Oct. 3, 2022
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| Pricing date: | Oct. 4, 2022
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| Settlement date: | Oct. 7, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.22%
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| Cusip: | 17330RYV1
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