By Wendy Van Sickle
Columbus, Ohio, Oct. 9 – Citigroup Global Markets Holdings Inc. priced $3.58 million of 0% bearish leveraged knock-out securities due Dec. 20, 2023 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.
A knock-out event will occur if the index reaches or falls below knock-out level, 86.187% of initial level, at any time on any trading day during the life of the notes.
If a knock-out event has occurred, the payout at maturity will be the minimum payment of $233.76 per $1,000 principal amount.
If a knock-out event has not occurred and the final level of the index is less than or equal to its final barrier level, 96.812% of initial level, the payout at maturity will be the minimum payment plus the participation amount, which is $1,000 times 0.035483221 times the quantity of the final barrier minus the final index level.
If a knock-out event has not occurred and the final level of the index is greater than its final barrier level, investors will receive the minimum payment.
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 knock-out securities
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| Underlying index: | S&P 500 index
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| Amount: | $3,576,000
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| Maturity: | Dec. 20, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If a knock-out event has occurred, minimum payment; if a knock-out event has not occurred and the index finishes at or below barrier level, minimum payment plus the product of $1,000 times 0.035483221 times the quantity of the final barrier level minus the final index level; if a knock-out event has not occurred and the index finishes above barrier level, minimum payment
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| Knock-out event: | If the index reaches or falls below knock-out level at any time on any trading day during the life of the notes
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| Initial level: | 4,235.0
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| Barrier level: | 4,100.0; 96.812% of initial level
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| Knock-out level: | 3,650.0; 86.187% of initial level
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| Minimum payment: | $233.76 per $1,000 principal amount
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| Pricing date: | Oct. 3
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| Settlement date: | Oct. 6
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17331M857
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