By Kiku Steinfeld
Chicago, April 10 – Citigroup Global Markets Holdings Inc. priced $965,000 of 0% dual directional barrier securities due Jan. 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout will be par plus the absolute value of the index return subject to a maximum return of par plus 7%.
The payout will be par plus the absolute value of the index return if the index declines but ends above the 68.05% final barrier.
Investors will lose 1% for every 1% that the index declines if it finishes below the final barrier.
The securities are non-callable.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA acting as placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities
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| Underlying index: | S&P 500 index
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| Amount: | $965,000
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| Maturity: | Jan. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus the absolute value of index return subject to a maximum return of par plus 7%; par plus absolute value of index return if index declines but ends above final barrier; 1% loss for every 1% that index declines if it ends below final barrier
|
| Upside leverage: | 100%
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| Cap: | 7%
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| Final barrier: | 2,621.531, 68.05% of initial level
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| Call: | Non-callable
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| Initial level: | 3,852.36
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
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| Underwriter: | Citigroup Global Markets Inc. with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA acting as placement agents
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| Fees: | 1%
|
| Cusip: | 17330YWG1
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