New Issue: Citi sells $7.33 million dual directional market-linked notes on S&P

By Sarah Lizee

Olympia, Wash., Nov. 2 – Citigroup Global Markets Holdings Inc. priced $7.33 million of 0% dual directional market-linked notes due Nov. 4, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

A knock-out event will occur if the index ever closes above 127% of its initial level or below 73% of its initial level.

If a knock-out event occurs, the payout at maturity will be par plus 4.5%.

If a knock-out event does not occur, the payout will be par plus the absolute value of the index return.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Dual directional market-linked notes
Underlying index:	S&P 500
Amount:	$7,332,000
Maturity:	Nov. 4, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains or declines by more than 27%, par plus 4.5%; otherwise, par plus the absolute value of the index return
Initial level:	2,682.63
Upside knock-out level:	3,406.94, 127% of initial level
Downside knock-out level:	1,958.32, 73% of initial level
Pricing date:	Oct. 30
Settlement date:	Nov. 2
Underwriter:	Citigroup Global Markets Inc.
Fees:	2%
Cusip:	17326Y2P0

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