By Cady Vishniac
Detroit, Nov. 25 – Citigroup Global Markets Holdings Inc. priced $249,000 of 0% buffer securities due Nov. 28, 2025 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 80% of any ETF gain.
Investors will receive par if the ETF falls by up to 15%.
If the ETF falls by more than 15%, investors will receive a number of shares of the underlying ETF equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares, plus a cash buffer of $150 per $1,000 principal amount.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffer securities
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Underlying ETF: | SPDR S&P 500 ETF trust
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Amount: | $249,000
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Maturity: | Nov. 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 80% of any ETF gain; par if the ETF falls by up to 15%; if the ETF falls by more than 15%, 2.79752 shares of the ETF (or, at the issuer’s option, the cash value of those shares) plus a cash buffer of $150 per $1,000 principal amount
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Initial price: | $357.46
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Buffer price: | $303.841, 85% of initial price
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Pricing date: | Nov. 23
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Settlement date: | Nov. 27
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17324X6K1
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