By Kiku Steinfeld
Chicago, March 23 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% buffer securities due April 7, 2022 linked to the Industrial 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 1.5 times any ETF gain, capped at par plus 7%.
Investors will receive par if the ETF falls by up to 15%.
If the ETF falls by more than 15%, investors will lose 1% for every 1% ETF decline beyond 15%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Buffer securities
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| Underlying ETF: | Industrial Select Sector SPDR fund
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| Amount: | $2 million
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| Maturity: | April 7, 2022
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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 ETF gain, capped at par plus 7%; par if the ETF falls by up to 15%; otherwise, 1% loss for every 1% ETF decline beyond 15%
|
| Initial value: | $95.42
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| Buffer value: | $81.107, 85% of initial value
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328YYY4
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