By William Gullotti
Buffalo, N.Y., May 25 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% contingent bearish market-linked notes due Nov. 24, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index finishes at or above its initial level, the payout at maturity will be par. If the index finishes below its initial level but at or above 72% of its initial level, the payout will be par plus the absolute value of the index return. If the index finishes below 72% of its initial level, the payout will be par plus 3%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent bearish market-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | Nov. 24, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if index finishes at or above initial level; if index finishes below initial level but at or above knock-out level, par plus absolute value of index return; if index finishes below knock-out level, par plus 3%
|
| Initial index level: | 3,900.79
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| Knock-out level: | 2,808.569; 72% of initial index level
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| Pricing date: | May 19
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| Settlement date: | May 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330FLJ8
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