By Wendy Van Sickle
Columbus, Ohio, April 17 – Citigroup Global Markets Holdings Inc. priced $42.29 million of 0% bearish capped buffer GEARS due Jan. 17, 2024 linked inversely to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index declines, investors will gain 3% for every 1% decline of the index, subject to a maximum return of par plus 24.84%.
If the index finishes flat or gains by no more than 8%, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain of the index above the 108% threshold level, with losses capped at 92%.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Bearish capped buffer GEARS
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| Underlying index: | S&P 500 index
|
| Amount: | $42,291,500
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| Maturity: | Jan. 17, 2024
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | If index declines, gain 3% for every 1% decline, capped at par plus 24.84%; par if index finishes flat or gains by up to 8%; otherwise, 1% loss for each 1% gain above threshold level, with losses capped at 92%
|
| Initial level: | 4,108.94
|
| Threshold level: | 4,437.66; 108% of initial level
|
| Principal protection: | 8%
|
| Pricing date: | April 11
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| Settlement date: | April 14
|
| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
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| Fees: | 0.75%
|
| Cusip: | 17331D345
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