Published on 11/8/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.66 million dual directional buffer notes linked to Dow, Russell, S&P
New York, Nov. 8 – Citigroup Global Markets Holdings Inc. priced $1.66 million of 0% dual directional buffer securities due Feb. 5, 2024 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout will be par plus 100% of the worst performing index return subject to a maximum return of par plus 25.7%.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but ends above the 80% buffer level.
Investors will lose 1% for every 1% that the worst performing 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 indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,655,000
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| Maturity: | Feb. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus 100% of worst performing index return subject to a maximum return of par plus 25.7%; par plus absolute value of worst performing index return if worst performing index declines but ends above 80% buffer level; 1% loss for every 1% that worst performing index declines beyond buffer
|
| Call: | Non-callable
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| Initial levels: | 32,732.95 for Dow Jones industrial average, 1,846.863 for Russell 2000 index, 3,871.98 for S&P 500 index
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| Buffer levels: | 26,186.36 for Dow Jones industrial average, 1,477.490 for Russell 2000 index, 3,097.584 for S&P 500 index, 80% of initial levels
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| Upside leverage: | 100%
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| Cap: | 25.7%
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| Buffer: | 20%
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17330Y3Z1
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