Citi plans dual direction barrier digital plus notes on Dow, Russell

By Susanna Moon

Chicago, May 25 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier digital plus securities due June 2, 2023 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above the initial level, the payout at maturity will be par plus the greater of the fixed return of 53.8% and the gain of the worse performing index.

If either index falls by up to its 70% barrier level, the payout at maturity will be par plus the absolute value of the return of the worse performing index.

Otherwise, investors will lose 1% for each 1% decline of the worse performing index.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on May 30.

The Cusip number is 17324CV52.

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