Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $759,000 0% dual directional buffer notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, April 18 – Citigroup Global Markets Holdings Inc. priced $759,000 of 0% dual directional buffer securities due Jan. 23, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus 100% of the worst performing index return subject to a maximum return of par plus 10%.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but ends above the 74.45% buffer.
Investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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 buffer securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $759,000
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| Maturity: | Jan. 23, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains par plus 100% of worst performing index return subject to a maximum return of par plus 10%; par plus absolute value of worst performing index return if worst performing index declines but ends above 74.45% buffer level; 1% loss for every 1% that worst performing index declines beyond buffer
|
| Upside leverage: | 100%
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| Cap: | 10%
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| Buffer: | 25.55%
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| Buffer level: | 11,698.537 for Nasdaq index, 1,452.720 for Russell, 3,367.217 for S&P, 74.45% of initial level
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| Call: | Non-callable
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| Initial levels: | 15,713.28 for Nasdaq index, 1,951.269 for Russell, 4,522.79 for S&P
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| Pricing date: | July 17, 2023
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| Settlement date: | July 20, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.05%
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| Cusip: | 17291RTL6
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