By Wendy Van Sickle
Columbus, Ohio, April 25 – Citigroup Global Markets Holdings Inc. priced $729,000 of 0% dual directional barrier securities due Oct. 28, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the fund finishes at or above its initial level, the payout at maturity will be par plus the gain up to a maximum return of 23%.
If the fund falls by up to 27.5%, the payout will be par plus the absolute value of the return.
Otherwise, investors will receive a number of shares of the underlying fund equal to $1,000 divided by the initial price or, at the issuer’s option, the cash equivalent.
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: | Dual directional barrier securities
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| Underlying fund: | SPDR S&P 500 ETF Trust
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| Amount: | $729,000
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| Maturity: | Oct. 28, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund gains, par plus return capped at 23%; if index falls by up to 27.5%, par plus absolute return; otherwise, 3.75136 fund shares
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| Initial level: | $266.57
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| Barrier level: | $193.263, 72.5% of initial level
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| Pricing date: | April 23
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| Settlement date: | April 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324XHY9
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