By Kiku Steinfeld
Chicago, April 18 – Citigroup Global Markets Holdings Inc. priced $418,000 of 0% dual directional buffer securities due Aug. 22, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus the index return subject to a maximum return of par plus 13%.
The payout will be par plus 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional buffer securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $418,000
|
| Maturity: | Aug. 22, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains par plus index return subject to a maximum return of par plus 13%; par plus absolute value of index return if index declines but ends above 90% buffer level; 1% loss for every 1% that index declines beyond buffer
|
| Initial level: | 4,522.79
|
| Buffer level: | 4,070.511, 90% of initial level
|
| Upside leverage: | 100%
|
| Cap: | 13%
|
| Buffer: | 10%
|
| Call: | Non-callable
|
| Pricing date: | July 17, 2023
|
| Settlement date: | July 20, 2023
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.875%
|
| Cusip: | 17291RRG9
|
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