Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.44 million dual directional barrier securities on three indexes
New York, May 18 – Citigroup Global Markets Holdings Inc. priced $2.44 million of 0% dual directional barrier securities due May 1, 2026 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout will be par plus 125% of that index’s return.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but ends at or above the 65% final barrier.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
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 barrier securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $2,437,000
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| Maturity: | May 1, 2026
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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 125% of that index’s return; par plus absolute value of worst performing index return if worst performing index declines but ends at or above final barrier; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Initial levels: | 34,098.16 for Dow Jones industrial average, 13,245.99 for Nasdaq-100 index, 1,768.987 for Russell 2000 index
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| Upside leverage: | 125%
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| Final barriers: | 22,163.804 for Dow Jones industrial average, 8,609.894 for Nasdaq-100 index, 1,149.842 for Russell 2000 index, 65% of initial level
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| Pricing date: | April 28
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| Settlement date: | May 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.2%
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| Cusip: | 17331HJR8
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