By Taylor Fox
New York, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $1.83 million of 0% dual directional barrier digital plus securities due Oct. 12, 2023 linked to the Invesco QQQ trust, the SPDR Dow Jones industrial average ETF trust and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worst performing fund finishes at or above its initial level, the payout at maturity will be par plus the greater of the digital return amount of 21% and the return of the least performing index.
If the worst performing index falls by up to 30%, the payout will be par plus 50% of the absolute value of the return of the worst performing fund.
Otherwise, investors will be fully exposed to the decline of the least performing fund, payable in either shares or cash.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional barrier digital plus securities
|
| Underlying funds: | Invesco QQQ trust, SPDR Dow Jones industrial average ETF trust and SPDR S&P 500 ETF trust
|
| Amount: | $1,832,000
|
| Maturity: | Oct. 12, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the worst performing fund finishes at or above its initial level, par plus the greater of the digital return amount of 21% and the return of the least performing fund; if the worst performing fund falls by up to barrier level, par plus 50% of the absolute value of the return of the worst performing fund; otherwise, full exposure to decline of the least performing fund
|
| Initial levels: | $275.16 for Invesco, $277.72 for Dow and $334.93 for S&P
|
| Barrier levels: | $192.612 for Invesco, $194.404 for Dow and $234.451 for S&P; 70% of initial levels
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 9
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324X3L2
|
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