Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $342,000 dual directional buffer securities linked to Russell, S&P
Chicago, Oct. 12 – Citigroup Global Markets Holdings Inc. priced $342,000 of 0% dual directional buffer securities due Nov. 2, 2023 linked to the worst performing of 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 finishes flat or gains, the payout at maturity will be par the return of the worst performer.
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 85% barrier level.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial level.
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: | $342,000
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| Maturity: | Nov. 2, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes flat or gains, par plus return of worst performer; par plus absolute value of worst performing index return if worst performing index declines but ends at or above 85% barrier level; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Initial levels: | 1,664.716 for Russell, 3,585.62 for S&P
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| Barrier levels: | 1,415.009 for Russell, 3,047.777 for S&P, 85% of initial levels
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| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330R4H5
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