By Wendy Van Sickle
Columbus, Ohio, April 24 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% barrier securities due Oct. 26, 2022 linked to the worst performing of the common stocks of JPMorgan Chase & Co. and Bank of America Corp., 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 4 times the return of the worst performing stock if it finishes above its initial value, with the payout capped at $1,750 per $1,000 of notes.
If the worst performer finishes flat or declines by up to 15%, the payout will be par.
If the worst performer falls by more than 15%, investors will be fully exposed to the decline of that stock.
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 stocks: | JPMorgan Chase & Co. and Bank of America Corp.
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| Amount: | $500,000
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| Maturity: | Oct. 26, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 4 times any gain in worst performing stock, capped at par plus 75%; par if worst performer finishes flat or falls by up to 15%; otherwise full exposure to decline of worst performer
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| Initial values: | $92.559 for JPMorgan, $22.71 for BofA
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| Barrier values: | $78.675 for JPMorgan, $19.304 for BofA; 85% of initial values
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| Strike date: | April 20
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| Pricing date: | April 21
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| Settlement date: | April 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17328VVZ0
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