By William Gullotti
Buffalo, N.Y., Nov. 2 – Citigroup Global Markets Holdings Inc. priced $6.76 million of 0% buffered digital notes due Jan. 31, 2023 linked to 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 ETF is greater than or equal to its final buffer value, 85% of its initial level, the payout at maturity will be par plus 11.25%.
Otherwise, investors will lose 1.17647% for every 1% that the ETF declines beyond 15%.
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: | Buffered digital notes
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Underlying fund: | Energy Select Sector SPDR Fund
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Amount: | $6.76 million
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Maturity: | Jan. 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final ETF level is greater or equal to 85% of its initial level, par plus 11.25%; if the ETF falls by more than 15%, 1.17647% loss for every 1% decline beyond 15%
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Initial ETF level: | $49.26
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Buffer value: | $41.871; 85% of initial level
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Pricing date: | July 27
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Settlement date: | July 30
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 17329Q5Z9
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