By William Gullotti
Buffalo, N.Y., March 3 – Citigroup Global Markets Holdings Inc. priced $2.99 million of 0% buffered notes due Aug. 28, 2023 tied to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the fund return is positive, the payout at maturity will be par plus double the gain, up to a maximum payout of par plus 19.1%.
If the fund finishes flat or falls by up to 10%, investors will receive par. Investors will lose 1.1111% for every 1% decline beyond 10%.
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 notes
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Underlying ETF: | Financial Select Sector SPDR Fund
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Amount: | $2,987,000
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Maturity: | Aug. 28, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus two times the gain, up to a maximum payout of par plus 19.1%; if fund finishes flat or falls by up to 10%, par; otherwise, 1.1111% loss for every 1% decline beyond 10%
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Initial fund level: | $38.34
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Buffer level: | $34.506; 90% of initial level
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 17330A3K6
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