Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $335,000 0% dual directional buffer securities on indexes, ETF
Chicago, Feb. 23 – Citigroup Global Markets Holdings Inc. priced $335,000 of 0% dual directional buffer securities due July 21, 2025 linked to the worst performing of the Dow Jones industrial average, Russell 2000 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing asset gains the payout will be par plus the worst performing asset return subject to a maximum return of par plus 18.8%.
The payout will be par plus the absolute value of the worst performing asset return if the worst performing asset declines but ends above the 85% buffer.
Investors will lose 1% for every 1% that the worst performing asset 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 assets: | Dow Jones industrial average, Russell 2000 index and SPDR S&P 500 ETF Trust
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| Amount: | $335,000
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| Maturity: | July 21, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing asset gains par plus worst performing asset return subject to a maximum return of par plus 18.8%; par plus absolute value of worst performing asset return if worst performing asset declines but ends above 85% buffer level; 1% loss for every 1% that worst performing asset declines beyond buffer
|
| Call: | Non-callable
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| Initial levels: | 37,361.12 for Dow, 1,927.304 for Russell, $474.93 for S&P ETF
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| Buffer levels: | 31,756.952 for Dow, 1,638.208 for Russell, $403.691 for S&P ETF, 85% of initial levels
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| Upside leverage: | 100%
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| Cap: | 18.8%
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| Buffer: | 15%
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.375%
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| Cusip: | 17291TPW2
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