By Marisa Wong
Madison, Wis., July 6 – Citigroup Inc. priced $2.2 million of 0% barrier securities due July 1, 2020 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final price is greater than or equal to the initial price, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return of 77%.
If the final price is less than the initial price but greater than or equal to the 80% barrier price, the payout will be par.
If the final price is less than the barrier price, investors will lose 1% for every 1% that the final price is less than the initial price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Barrier securities
|
| Underlying ETF: | SPDR S&P Biotech ETF
|
| Amount: | $2,197,000
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| Maturity: | July 1, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, subject to a maximum return of 77%; if final price is less than initial price but greater than or equal to barrier price, par; otherwise, investors will lose 1% for every 1% that final price is less than initial price
|
| Initial price: | $249.98
|
| Pricing date: | June 26
|
| Settlement date: | July 1
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3% Cusip: | 17298CBN7
|
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