By Taylor Fox
New York, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $1.6 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 20, 2023 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 115% of any gain in the index, up to a maximum payout of par plus 18%.
Investors will receive par if the index falls by up to 15%
Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
Wells Fargo Securities, LLC and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying: | S&P 500 index
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| Amount: | $1.6 million
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| Maturity: | Nov. 20, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 115% of any index gain, subject to par plus 18% maximum return; par if index falls by up to 15%; otherwise, 1% loss for every 1% decline beyond 15%
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| Initial index level: | 3,585.15
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| Buffer level: | 3,047.3775, 85% of initial level
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 18
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| Agents: | Wells Fargo Securities, LLC and Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17328WRV2
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