Chicago, April 17 – Citigroup Global Markets Holdings Inc. priced $265,000 of 0% dual directional barrier securities due Nov. 25, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout will be par plus the ETF return subject to a maximum return of par plus 25%.
The payout will be par plus the absolute value of the ETF return if the ETF declines but ends above the 70% final barrier.
Investors will lose 1% for every 1% that the ETF declines if it finishes below the final barrier, payable as 2.56654 shares or cash at the issuer’s option.
The securities are non-callable.
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 barrier securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $265,000
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| Maturity: | Nov. 25, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains par plus ETF return subject to a maximum return of par plus 25%; par plus absolute value of ETF return if ETF declines but ends above final barrier; 1% loss for every 1% that ETF declines if it ends below final barrier, payable as 2.56654 shares or cash at the issuer’s option
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| Upside leverage: | 100%
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| Cap: | 25%
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| Initial level: | $389.63
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| Final barrier: | $272.741, 70% of initial level
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| Call: | Non-callable
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| Pricing date: | May 20, 2022
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| Settlement date: | May 25, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17330DCS3
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