By Kiku Steinfeld
Chicago, May 11 – Citigroup Global Markets Holdings Inc. priced $758,000 of barrier securities with upside reset feature due April 29, 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 upside barrier value will be the initial value of the fund unless a reset event has occurred, in which case the upside barrier value will be 85% of the initial fund value. A reset event will occur if on any trading day until April 26, 2021, the fund closes below 85% of its initial value.
If the final value of the fund is greater than the upside barrier value, the payout at maturity will be par plus the return of the fund.
If the final value of the fund is less than or equal to the upside barrier value but greater than or equal to the downside barrier value, 80% of the initial fund value, investors will receive par.
If the final value of the fund is less than the downside barrier value, investors will receive 4.20468 shares or the cash value of those shares at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Issue: | Barrier securities with upside reset feature
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| Underlier: | SPDR Dow Jones industrial average ETF trust
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| Amount: | $758,000
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| Maturity: | April 29, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final fund value is greater than upside barrier, par plus return; if final value is less than or equal to upside barrier but greater than or equal to downside barrier, par; otherwise, 4.20468 shares or cash value
|
| Initial level: | $237.83
|
| Barrier level: | $190.264, 80% of initial level
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| Reset barrier value: | $202.156, 85% of initial level
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| Pricing date: | April 24
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| Settlement date: | April 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
|
| Cusip: | 17324XYH7
|
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