New York, Nov. 30 – Citigroup Global Markets Holdings Inc. priced $2.02 million of 0% dual directional barrier securities due May 28, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains, the payout will be par plus the ETF return, subject to a maximum return of par plus 33%.
The payout will be par plus the absolute value of the ETF return if the ETF declines but ends at or above the 70% final barrier.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the ETF’s initial level or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
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: | Dual directional barrier securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $2,017,000
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| Maturity: | May 28, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF gains, par plus ETF return, subject to a maximum return of par plus 33%; par plus absolute value of ETF return if ETF declines but ends at or above final barrier; otherwise, receive 2.50063 shares per security or, at the issuer’s option, the cash value
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| Initial level: | $399.90
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| Cap: | 33%
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| Final barrier: | $279.93, 70% of initial level
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| Initial level: | $399.90
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17330DKQ8
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