Chicago, Sept. 27 – Citigroup Global Markets Holdings Inc. priced $779,000 of 0% dual directional barrier securities due March 31, 2025 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 30%.
The payout will be par plus the absolute value of the ETF return if the ETF declines but ends above the 68% final barrier.
Investors will lose 1% for every 1% that the ETF declines if it finishes below the final barrier, paid in cash or shares 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.
|
| 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: | $779,000
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| Maturity: | March 31, 2025
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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 30%; 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 in cash or shares at issuer’s option
|
| Initial level: | $364.31
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| Final barrier: | $247.731, 68% of initial level
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| Upside leverage: | 100%
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| Cap: | 30%
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| Call: | Non-callable
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| Pricing date: | Sept. 26, 2022
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| Settlement date: | Sept. 29, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17330DFW1
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