Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $595,000 0% dual directional barrier securities on indexes
By Kiku Steinfeld
Chicago, March 26 – Citigroup Global Markets Holdings Inc. priced $595,000 of 0% dual directional barrier securities due July 6, 2026 linked to the Dow Jones industrial average, Nasdaq-100 index and 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 127% of the worst performing index return.
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 65% final barrier.
Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
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.
|
| 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: | $595,000
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| Maturity: | July 6, 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 127% of worst performing index return; par plus absolute value of worst performing index return if worst performing index declines but ends above final barrier; 1% loss for every 1% that worst performing index declines if it ends below final barrier
|
| Upside leverage: | 127%
|
| Cap: | None
|
| Final barriers: | 22,364.940 for Dow, 9,866.487 for Nasdaq, 1,227.677 for Russell, 65% of initial level
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| Call: | Non-callable
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| Initial levels: | 34,407.60 for Dow, 15,179.21 for Nasdaq, 1,888.734 for Russell
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.2%
|
| Cusip: | 17291RH21
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