By William Gullotti
Buffalo, N.Y., April 23 – Citigroup Global Markets Holdings Inc. priced $2.6 million of 0% buffered digital securities due May 2, 2025 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 final level of the index is greater than or equal to its initial level, the payout at maturity will be par plus 8.05%.
Investors will receive par if the index declines by no more than 15% and will lose 1.17647% for every 1% that the index declines beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffered digital securities
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Underlying index: | S&P 500 index
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Amount: | $2.6 million
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Maturity: | May 2, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater or equal to its initial level, par plus 8.05%; if index falls by up to 15%, par; if the index falls by more than 15%, 1.17647% loss for every 1% decline beyond 15%
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Initial index level: | 5,051.41
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Buffer value: | 4,293.699; 85% of initial level
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Strike date: | April 16
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Pricing date: | April 17
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Settlement date: | April 22
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17331UCZ8
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