By Wendy Van Sickle
Columbus, Ohio, Oct. 3 – Citigroup Global Markets Holdings Inc. priced $7.82 million of 0% trigger absolute return step securities due Sept. 30, 2022 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 index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of 22.5% and the index return.
If the final index level is less than the initial index level and greater than or equal to the downside threshold level, 75% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than the downside threshold level, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger absolute return step securities
|
| Underlying index: | S&P 500
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| Amount: | $7,817,550
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| Maturity: | Sept. 30, 2022
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus greater of 22.5% and index return; if final index level is less than initial index level and greater than or equal to downside threshold level, par plus absolute value of index return; if final index level is less than downside threshold level, 1% loss for every 1% that final index level is less than initial index level
|
| Initial index level: | 2,496.84
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| Downside threshold: | 1,872.63, or 75% of initial level
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17325K053
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