By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – Citigroup Global Markets Holdings Inc. priced $1.5 million of 0% dual directional barrier securities due July 31, 2025 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above the initial level, the payout at maturity will be par plus 1.2 times the gain of the worst performing index, capped at par plus 57%.
If any index falls but not below its 70% barrier level, the payout at maturity will be par plus the absolute value of the return of the worst performing index.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| 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 indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $1.5 million
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| Maturity: | July 31, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 1.2 times return of worst performing index up to par plus 57%; if any index falls by up to 30%, par plus absolute return of worst performing index; otherwise, 1% loss for each 1% decline of worst performing index
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| Initial levels: | 26,469.89 for Dow, 3,215.63 for S&P
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| Trigger levels: | 18,528.923 for Dow, 2,250.941 for S&P; 70% of initial levels
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| Pricing date: | July 24
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| Settlement date: | July 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17328WLK2
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