By Kiku Steinfeld
Chicago, March 29 – Citigroup Global Markets Holdings Inc. priced $300,000 of 0% barrier securities due March 16, 2023 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 2 times the ETF return, capped at 40%.
If the final share price is less than the initial share price but greater than or equal to the 70% barrier price, the payout will be par.
If the final share price is less than the barrier price, investors will receive a fixed number of shares of the ETF equal to its equity ratio or, if the issuer prefers, the cash value of those shares.
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: | Barrier securities
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| Underlying ETF: | Energy Select Sector SPDR fund
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| Amount: | $300,000
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| Maturity: | March 16, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to initial share price, par plus 2 times ETF return, capped at 40%; if final share price is less than initial share price but greater than or equal to barrier price, par; if final share price is less than barrier price, a fixed number of shares of ETF equal to its equity ratio or, if issuer prefers, cash value
|
| Initial share price: | $53.46
|
| Barrier price: | $37.422; 70% of initial share price
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| Equity ratio: | 18.70557
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| Pricing date: | March 11
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| Settlement date: | March 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17328NKS6
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