By William Gullotti
Buffalo, N.Y., June 9 – Citigroup Global Markets Holdings Inc. priced $5.09 million of 0% dual directional buffer securities due June 5, 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 200% of index’s return, subject to a maximum return of 25.5%.
If the index’s final level is less than or equal to its initial level but greater than or equal to its final buffer level, 90% of its initial level, the payout will be par plus the absolute value of the index’s return.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
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 buffer securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $5,092,000
|
| Maturity: | June 5, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index’s final level is greater than or equal to initial level, par plus 200% of the index’s return, subject to 25.5% cap; if the index’s final level is less than initial level but greater than or equal to final buffer level, par plus absolute value of the index’s return; otherwise, 1% loss for every 1% that the index declines beyond 10%
|
| Initial level: | 4,132.15
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| Final buffer level: | 3,591.675; 90% of initial index level
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| Pricing date: | May 31
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| Settlement date: | June 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.8%
|
| Cusip: | 17330FXG1
|
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