By Kiku Steinfeld
Chicago, Feb. 5 – Citigroup Global Markets Holdings Inc. priced $290,000 of 0% dual directional barrier securities due June 20, 2025 linked to the Invesco QQQ Trust, Series 1 and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains the payout will be par plus 100% of the worst performing ETF return subject to a maximum return of par plus 48%.
The payout will be par plus the absolute value of the worst performing ETF return if the worst performing ETF declines but ends above the 60% final barrier.
Investors will lose 1% for every 1% that the worst performing ETF 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.
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Guarantor: | Citigroup Inc.
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Issue: | Dual directional barrier securities
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Underlying ETFs: | Invesco QQQ Trust, Series 1 and SPDR S&P Regional Banking ETF
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Amount: | $290,000
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Maturity: | June 20, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF gains par plus 100% of worst performing ETF return subject to a maximum return of par plus 48%; par plus absolute value of worst performing ETF return if worst performing ETF declines but ends above final barrier; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
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Upside leverage: | 100%
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Cap: | 48%
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Final barriers: | $220.758 for Invesco QQQ Trust, Series 1, $25.842 for SPDR S&P Regional Banking ETF, 60% of initial level
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Call: | Non-callable
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Initial levels: | $367.93 for Invesco QQQ Trust, Series 1, $43.07 for SPDR S&P Regional Banking ETF
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Pricing date: | June 16, 2023
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Settlement date: | June 22, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.45%
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Cusip: | 17291R6S6
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