Published on 8/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.35 million dual directional buffer securities linked to Russell, S&P
New York, Aug. 9 – Citigroup Global Markets Holdings Inc. priced $1.35 million of 0% dual directional buffer securities due July 30, 2026 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout at maturity will be par plus 104.8% of that index’s return.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but ends at or above the 80% buffer.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
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 indexes: | Russell 2000 index and S&P 500 index
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Amount: | $1,349,000
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Maturity: | July 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus 104.8% of that index’s return; par plus absolute value of worst performing index return if worst performing index declines but ends at or above 80% buffer level; otherwise, 1% loss for every 1% that worst performing index declines beyond buffer
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Initial levels: | 1,954.896 for Russell 2000 index, 4,537.41 for S&P 500 index
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Buffer: | 20%
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Buffer level: | 1,563.917 for Russell 2000 index, 3,629.928 for S&P 500 index, 80% of initial levels
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Pricing date: | July 27
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Settlement date: | Aug. 1
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.2%
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Cusip: | 17291RJY9
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