By Kiku Steinfeld
Chicago, Feb. 26 – Citigroup Global Markets Holdings Inc. priced $791,000 of 0% dual directional buffer securities due Oct. 2, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus 100% of the index return subject to a maximum return of par plus 9.05%.
The payout will be par plus the absolute value of the index return if the index declines but ends above the 85% buffer.
Investors will lose 1% for every 1% that the index 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional buffer securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $791,000
|
| Maturity: | Oct. 2, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains par plus 100% of index return subject to a maximum return of par plus 9.05%; par plus absolute value of index return if index declines but ends above 85% buffer level; 1% loss for every 1% that index declines beyond buffer
|
| Upside leverage: | 100%
|
| Cap: | 9.05%
|
| Buffer: | 15%
|
| Buffer level: | 3,721.6485, 85% of initial level
|
| Call: | Non-callable
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| Initial level: | 4,378.41
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.375%
|
| Cusip: | 17291RCK6
|
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