By William Gullotti
Buffalo, N.Y., May 30 – Citigroup Global Markets Holdings Inc. priced $2.86 million of 0% bearish leveraged securities due June 1 linked 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’s final level is greater than or equal to the 99.72% barrier value, the payout at maturity will be the minimum payout, or $231.48 per $1,000 principal amount.
If the index finishes below the barrier value, investors will receive the minimum payout plus an additional amount equal to par times 0.01367762 times the quantity of the final barrier value minus the index’s final level, subject to a maximum payout of $5,018.65 per $1,000 principal amount.
Investors should note that the payout calculation requires using the actual barrier value and final index level, as opposed to more customary changes in percentage.
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: | Bearish leveraged securities
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| Underlying index: | S&P 500 index
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| Amount: | $2.86 million
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| Maturity: | June 1, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final index level greater than or equal to barrier value, minimum payout; if the index finishes below barrier value, par times 0.01367762 times the quantity of the final barrier value minus the index’s final level, plus the minimum payout, subject to maximum payout
|
| Initial level: | 4,061.22
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| Barrier value: | 4,050.0; 99.72% of initial level
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| Minimum payout: | $231.48 per $1,000 principal amount
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| Maximum payout: | $5,018.65 per $1,000 principal amount
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| Pricing date: | May 4
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| Settlement date: | May 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17331D121
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