By William Gullotti
Buffalo, N.Y., June 10 – Citigroup Global Markets Holdings Inc. priced $1.71 million of 0% buffer securities due March 1, 2024 linked to the SPDR Gold 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 the ETF gain, capped at par plus 18.35%.
If the ETF finishes flat or falls by up to 25%, the payout will be par. Otherwise, investors will lose 1% for every 1% ETF decline beyond 25%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying ETF: | SPDR Gold Trust
|
| Amount: | $1,705,000
|
| Maturity: | March 1, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any ETF gain, capped at par plus 18.35%; par if ETF falls by up to 25%; otherwise, 1% loss for every 1% ETF decline beyond 25%
|
| Initial level: | $172.85
|
| Buffer level: | $129.6375; 75% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | June 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.7%
|
| Cusip: | 17330P5T2
|
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