By Kiku Steinfeld
Chicago, July 28 – Citigroup Global Markets Holdings Inc. priced $205,000 of 0% barrier securities due July 25, 2025 linked to the worst performing of the SPDR Dow Jones industrial average ETF trust and 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 final level of the worst performing ETF is greater than or equal to its initial level, the payout at maturity will be par plus 1.5 times the return of that ETF.
If the final level of the worst performing ETF is less than its initial level but greater than or equal to its 70% barrier level, the payout will be par.
If the final level of the worst performing ETF is less than the 70% barrier level, investors will receive a fixed number of shares of the worst performing underlying 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 ETFs: | SPDR Dow Jones industrial average ETF trust, SPDR S&P 500 ETF trust
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| Amount: | $205,000
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| Maturity: | July 25, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worst performing ETF is greater than or equal to its initial level, par plus 1.5 times the return of that ETF; if the final level of the worst performing ETF is less than its initial level but greater than or equal to its 70% barrier level, par; otherwise, a fixed number of shares of the worst performing underlying equal to its equity ratio or cash value
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| Initial levels: | $269.98 for Dow, $326.86 for S&P
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| Barrier levels: | $188.986 for Dow, $228.802 for S&P; 70% of initial levels
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| Equity ratios: | 3.70398 for Dow, 3.05941 for S&P
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| Pricing date: | July 22
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| Settlement date: | July 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XT75
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