By Wendy Van Sickle
Columbus, Ohio, Nov. 5 – Citigroup Global Markets Holdings Inc. priced $6 million of 0% capped buffer in-gears due May 6, 2025 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the index return is greater than or equal to 36%, the payout at maturity will be par plus 39.7%.
If the index return is less than 36% but greater than or equal to negative 3%, the payout at maturity will be par plus 6% plus the product of the underlying return minus negative 3% and the upper upside gearing of 0.8641.
If the index return is less than negative 3% but greater than or equal to negative 9%, the payout at maturity will be par plus the return plus 9%.
Otherwise, investors will lose 1% for every 1% decline in the index beyond 9%.
Citigroup Global Markets Inc. is the underwriter. UBS Financial Services Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Capped buffer in-gears
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| Underlying index: | Dow Jones industrial average
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| Amount: | $6 million
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| Maturity: | May 6, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index return is greater than 36%, par plus 39.7%; if the index return is less than 36% but greater than negative 3%, par plus 6% plus the product of the underlying return minus negative 3% and the upper upside gearing of 0.8641; if the index return is less than negative 3% but greater than or equal to negative 9%, par plus the return plus 9%; exposure to losses beyond 9%
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| Initial level: | Average of index closing levels over three-month period from Nov. 1 to and including Nov. 9
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| Final level: | Average of index closing levels over the three-month period from Jan. 31, 2025 to and including May 1, 2025
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| Pricing date: | Nov. 2
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| Settlement date: | Nov. 5
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| Underwriter: | Citigroup Global Markets Inc.
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| Agent: | UBS Financial Services Inc.
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| Fees: | 0.25%
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| Cusip: | 17329T203
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