By Sarah Lizee
Olympia, Wash., July 2 – Citigroup Global Markets Holdings Inc. priced $2.01 million of 0% dual directional barrier securities due Dec. 29, 2023 tied 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.
If the ETF finishes at or above the initial level, the payout at maturity will be par plus the return of the ETF, up to a maximum return of 30%.
If the ETF falls but finishes at or above the 75% barrier level, the payout at maturity will be par plus the absolute value of the ETF return.
Otherwise, the payout will be a number of shares of the ETF equal to $1,000 divided by the initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional barrier securities
|
| Underlying ETF: | SPDR S&P 500 ETF trust
|
| Amount: | $2,009,000
|
| Maturity: | Dec. 29, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes at or above the initial level, par plus return of ETF, up to a maximum return of 30%; if the ETF falls but finishes at or above the 80% barrier level, par plus the absolute value of the ETF return; otherwise, 3.2885 ETF shares
|
| Initial ETF level: | $304.09
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| Barrier level: | $228.068, 75% of initial level
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17324XH60
|
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