By William Gullotti
Buffalo, N.Y., April 25 – Citigroup Global Markets Holdings Inc. priced $2.77 million of 0% buffer securities due July 24, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the ETF finishes above its initial level, the payout at maturity will be par plus double the ETF gain, capped at par plus 14.53%.
If the ETF finishes flat or falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% ETF decline beyond 10%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying ETF: | SPDR S&P 500 ETF Trust
|
| Amount: | $2.77 million
|
| Maturity: | July 24, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus two times any ETF gain, capped at par plus 14.53%; par if ETF falls by up to 10%; otherwise, 1% loss for every 1% ETF decline beyond 10%
|
| Initial level: | $445.04
|
| Buffer level: | $400.536; 90% of initial level
|
| Pricing date: | April 19
|
| Settlement date: | April 22
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.725%
|
| Cusip: | 17330FGT2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
