By Wendy Van Sickle
Columbus, Ohio, April 28 – Citigroup Global Markets Holdings Inc. priced $12.3 million of 0% dual directional trigger PLUS due May 24, 2024 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return of par plus 28%.
Investors will receive a 1% gain for each 1% loss if the ETF declines but finishes at or above the 80% principal barrier and will lose 1% for every 1% decline if the ETF ends below its principal barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Dual directional trigger PLUS
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Underlying ETF: | VanEck Gold Miners ETF
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Amount: | $12,297,000
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Maturity: | May 24, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If ETF return is positive, par plus 200% of ETF return, subject to a maximum return of par plus 28%; 1% gain for each 1% loss if ETF declines but ends at or above principal barrier; otherwise, full exposure to ETF decline from initial level
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Initial level: | $33.61
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Principal barrier: | $26.888, 80% of initial level
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Upside leverage: | 200%
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Cap: | 28%
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Pricing date: | April 21
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Settlement date: | April 26
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Agent: | Citigroup Global Markets Inc.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.25% including a structuring fee of 0.5%
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Cusip: | 17331HKD7
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