Citigroup plans dual directional barrier notes linked to Dow, Russell

By Sarah Lizee

Olympia, Wash., Aug. 20 – Citigroup Global Markets Holdings Inc. plans to price 0% dual directional barrier securities due Feb. 28, 2023 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the lesser-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus 130% of the return of the lesser-performing index.

If the lesser-performing index’s final level is less than its initial level but greater than or equal to its final barrier value, 70% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.

If the lesser-performing index’s final level is less than its final barrier value, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

The notes will be guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes are expected to price Aug. 23.

The Cusip number is 17324XRF9.

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