By Wendy Van Sickle
Columbus, Ohio, Sept. 5 – Citigroup Global Markets Holdings Inc. priced $125,000 of 0% dual directional buffer securities due Aug. 31, 2023 linked to the worse performing of the Invesco QQQ Trust, Series 1 and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the worst performing asset is greater than its initial level, the payout at maturity will be par plus 85% of the return of the worst performing asset.
If the final level of the worst performing asset is equal to or less than its initial level by up to 30%, the payout will be par plus the absolute value of the return of the worst performing asset.
Otherwise, investors will be exposed to any losses of the worst performing asset beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
The notes will price on Aug. 28 and settle on Aug. 31.
| 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: | Invesco QQQ Trust, Series 1 and Russell 2000 index
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| Amount: | $125,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final level of worst performing asset is greater than its initial level, par plus 85% of the return of the worst performing asset; if worst performing asset falls by up to 30%, par plus absolute value of its return; otherwise exposure to any loss of worst performing asset beyond 30%
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| Initial levels: | 1,728.422 for index, $184.61 for fund
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Underwriter: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17324CZS8
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