By Angela McDaniels
Tacoma, Wash., Aug. 27 – Citigroup Global Markets Holdings Inc. priced $999,000 of 0% dual directional barrier securities due Feb. 28, 2023 linked to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus 130% of that index’s return.
If the lesser-performing index’s final level is less than its initial level but greater than or equal to its final barrier level, 70% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the lesser-performing index’s final level is less than its final barrier level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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 barrier securities
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| Underlying indexes: | Dow Jones industrial average and Russell 2000
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| Amount: | $999,000
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| Maturity: | Feb. 28, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser-performing index’s final level is greater than or equal to initial level, par plus 130% of that index’s return; if lesser-performing index’s final level is less than initial level but greater than or equal to final barrier level, par plus absolute value of lesser-performing index’s return; if lesser-performing index’s final level is less than final barrier level, 1% loss for every 1% that lesser-performing index declines from initial level
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| Initial index levels: | 25,628.90 for Dow and 1,459.485 for Russell 2000
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| Final barrier levels: | 17,940.23 for Dow and 1,021.64 for Russell 2000, or 70% of initial index levels
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| Pricing date: | Aug. 23
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| Settlement date: | Aug. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XRF9
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