By Kiku Steinfeld
Chicago, Feb. 6 – Citigroup Global Markets Holdings Inc. priced $657,000 of 0% dual directional buffer securities due Dec. 12, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout will be par plus 100% of the index return subject to a maximum return of par plus 33.35%.
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: | Russell 2000 index
|
| Amount: | $657,000
|
| Maturity: | Dec. 12, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus 100% of index return subject to a maximum return of par plus 33.35%; 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
|
| Upside leverage: | 100%
|
| Cap: | 33.35%
|
| Buffer: | 10%
|
| Buffer level: | 1,628.829, 90% of initial level
|
| Call: | Non-callable
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| Initial level: | 1,809.810
|
| Pricing date: | Nov. 7, 2022
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| Settlement date: | Nov. 10, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.43%
|
| Cusip: | 17330Y3C2
|
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