By Kiku Steinfeld
Chicago, Oct. 24 – Citigroup Global Markets Holdings Inc. priced $398,000 of 0% dual directional buffer securities due Aug. 28, 2024 linked to an equally weighted basket of indexes consisting of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain of the basket, subject to a maximum return of 18%.
If the basket falls by up to 10%, the payout will be par plus the absolute value of the basket return.
Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
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 basket: | S&P 500 and Russell 2000; equal weights
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| Amount: | $398,000
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| Maturity: | Aug. 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any gain of the basket, subject to a maximum return of 18%; if basket falls by up to 10%, par plus absolute value of basket return; otherwise, 1% loss for every 1% decline beyond buffer
|
| Initial basket level: | 4,225.50 for S&P and 1,944.092 for Russell
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| Buffer level: | 90% of initial levels
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| Pricing date: | Feb. 23, 2022
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| Settlement date: | Feb. 28, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17330AAJ1
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