By Taylor Fox
New York, March 16 – Citigroup Global Markets Holdings Inc. priced $7.91 million of 0% geared buffer securities due March 8, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index finishes above its initial value, the payout at maturity will be par plus 1.5 times the gain, capped at par plus 19.65%.
If the index finishes flat or falls by up to 17.5%, the payout will be par.
Otherwise, investors will lose 1.212121% for every 1% index decline beyond the 17.5% buffer.
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: | Geared buffer securities
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| Underlying index: | S&P 500 index
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| Amount: | $7,910,000
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| Maturity: | March 8, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any index gain, capped at par plus 19.65%; par if the index finishes flat or falls by up to 17.5%; otherwise, 1.212121% loss for every 1% index decline beyond the 17.5% buffer
|
| Initial value: | 3,870.29
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| Buffer value: | 3,192.98925, 82.5% of initial value
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17328YSF2
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