By William Gullotti
Buffalo, N.Y., June 14 – Citigroup Global Markets Holdings Inc. priced $2.08 million of 0% barrier securities due May 23, 2024 linked to the worst performing of the Materials Select Sector SPDR fund and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the worse performing asset is greater than or equal to its initial level, the payout at maturity will be par plus 129% of the return of that asset.
If the final level of the worse performing asset is less than its initial level but greater than or equal to its 65% barrier level, the payout will be par.
If the final level of the worse performing asset is less than the 65% barrier level, investors will be fully exposed to the decline of the worse performing asset.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
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| Underlying assets: | Materials Select Sector SPDR fund and Energy Select Sector SPDR fund
|
| Amount: | $2,082,000
|
| Maturity: | May 23, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level of the worse performing asset is greater than or equal to its initial level, par plus 129% of the return of that asset; if the final level of the worse performing asset is less than its initial level but greater than or equal to its barrier level, par; otherwise, full exposure to the decline of the worse performing asset
|
| Initial levels: | $86.41 for Materials, $52.05 for Energy
|
| Barrier levels: | $56.167 for Materials, $33.833 for Energy; 65% of initial levels
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.95%
|
| Cusip: | 17329FPA6
|
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