Citigroup plans dual directional buffer notes on Invesco QQQ, Russell

By Sarah Lizee

Olympia, Wash., Aug. 14 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional buffer securities due Aug. 31, 2023 linked to the worse performing of the Invesco QQQ Trust, Series 1 and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level of the worst performing asset is greater than its initial level, the payout at maturity will be par plus at least 85% of the return of the worst performing asset.

If the final level of the worst performing asset is equal to or less than its initial level by up to 30%, the payout will be par plus the absolute return of the worst performing asset.

Otherwise, investors will be exposed to any losses of the worst performing asset beyond the buffer.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the agent.

The notes will price on Aug. 28 and settle on Aug. 31.

The Cusip number is 17324CZS8.

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