By Sarah Lizee
Olympia, Wash., April 2 – Citigroup Global Markets Holdings Inc. priced $3.88 million of 0% buffer securities due March 28, 2025 linked to the SPDR Dow Jones industrial average 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 any ETF gain.
Investors will receive par if the ETF falls by up to 25%.
If the ETF falls by more than 25%, 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 $250 per $1,000 principal amount.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying ETF: | SPDR Dow Jones industrial average ETF Trust
|
| Amount: | $3,883,000
|
| Maturity: | March 28, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any ETF gain; par if the ETF falls by up to 25%; if the ETF falls by more than 25%, 4.71565 shares of the ETF (or, at the issuer’s option, the cash value of those shares) plus a cash buffer of $250 per $1,000 principal amount
|
| Initial value: | $212.06
|
| Buffer value: | $159.045, 75% of initial value
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17324XA26
|
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