By William Gullotti
Buffalo, N.Y., July 11 – Citigroup Global Markets Holdings Inc. priced $1.68 million of 0% barrier securities due Aug. 1, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the index finishes at or above its initial level, payout will be par plus 150% of the index return with a maximum payout of par plus 17%.
If the index finishes below its initial level but at or above its final barrier level, 85% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,684,000
|
| Maturity: | Aug. 1, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes above initial level, par plus 150% of index gain with a maximum payout of par plus 17%; if the index finishes below its initial level but at or above its final barrier level, par; otherwise, 1% loss for each 1% decline from its initial level
|
| Initial level: | 3,900.11
|
| Final barrier level: | 3,315.094; 85% of initial levels
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17330P2R9
|
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