By William Gullotti
Buffalo, N.Y., June 17 – Citigroup Global Markets Holdings Inc. priced $2.33 million of 0% market-linked securities – leveraged upside participation to a cap and contingent downside due June 16, 2025 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any ETF gain, capped at a maximum return of par plus 80.3%.
If the ETF falls by up to 40%, the payout will be par.
Otherwise, investors will be fully exposed to the ETF’s decline from its initial level.
The notes are guaranteed by Citigroup Inc.
Wells Fargo Securities LLC and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Market-linked securities – leveraged upside participation to a cap and contingent downside
|
| Underlying: | SPDR S&P Biotech ETF
|
| Amount: | $2,329,000
|
| Maturity: | June 16, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any ETF gain, capped at 80.3%; if ETF falls by up to 40%, par; otherwise, 1% loss for every 1% decline of ETF from initial level
|
| Initial level: | $67.03
|
| Barrier level: | $40.218; 60% of initial level
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Agent: | Wells Fargo Securities LLC and Citigroup Global Markets Inc.
|
| Fees: | 2.675%
|
| Cusip: | 17330PBK4
|
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