By Taylor Fox
New York, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $775,000 of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due May 4, 2023 linked to the Technology Select Sector SPDR fund, 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 two times any gain in the ETF, up to a maximum payout of par plus 20%.
If the ETF falls by up to 10%, the payout will be par.
Investors will lose 1% for every 1% decline of the ETF beyond 10%.
Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying fund: | Technology Select Sector SPDR fund
|
| Amount: | $775,000
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| Maturity: | May 4, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus two times any gain in the ETF, up to maximum payout of par plus 20%; if ETF falls by up to 10%, par; otherwise, 1% loss for every 1% decline of ETF beyond 10%
|
| Initial share price: | $110.86
|
| Buffer level: | 90% of initial level
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities LLC
|
| Fees: | 2.97%
|
| Cusip: | 17324X3N8
|
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