By William Gullotti
Buffalo, N.Y., March 16 – Citigroup Global Markets Holdings Inc. priced $3.22 million of 0% dual directional barrier securities due March 14, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s final level is greater than its initial level, the payout at maturity will be par plus the index’s return, subject to a maximum payout of par plus 20%.
If the index’s final level is less than or equal to its initial level but greater than or equal to its final barrier level, 71.6% of its initial level, the payout will be par plus the absolute value of the index’s return.
If the index’s final level is less than its final barrier level, investors will lose 1% for every 1% of index decline from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities
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| Underlying index: | S&P 500
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| Amount: | $3,215,000
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| Maturity: | March 14, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the index’s final level is greater than or equal to initial level, par plus the index’s return, subject to 20% cap; if the index’s final level is less than initial level but greater than or equal to final barrier level, par plus absolute value of the index’s return; if the index’s final level is less than final barrier level, 1% loss for every 1% decline of the index from its initial level
|
| Initial level: | 4,204.31
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| Final barrier level: | 3,010.286; 71.6% of initial index level
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| Pricing date: | March 11
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| Settlement date: | March 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17330ASC7
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