New Issue: Citigroup prices $457,000 dual directional buffer securities linked to Russell, S&P

By Angela McDaniels

Tacoma, Wash., Nov. 6 – Citigroup Global Markets Holdings Inc. priced $457,000 of 0% dual directional buffer securities due Nov. 5, 2025 linked to a basket containing equal weights of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final basket level is greater than or equal to the initial basket level, the payout at maturity will be par plus the basket return, subject to a maximum return of 65%. If the basket level declines by up to 15%, the payout will be par plus the absolute value of the basket return. Otherwise, investors will lose 1% for every 1% that the basket declines beyond 15%.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Dual directional buffer securities
Underlying indexes:	Russell 2000 index and S&P 500 index, equally weighted
Amount:	$457,000
Maturity:	Nov. 5, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If final basket level is greater than or equal to initial basket level, par plus basket return, subject to maximum return of 65%; if basket level declines by up to 15%, par plus absolute value of basket return; otherwise, 1% loss for every 1% that basket declines beyond 15%
Initial levels:	1,846.863 for Russell and 3,871.98 for S&P
Buffer level:	85% of initial level
Pricing date:	Oct. 31, 2022
Settlement date:	Nov. 3, 2022
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.2%
Cusip:	17330RRG2

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