By Angela McDaniels
Tacoma, Wash., May 7 – Citigroup Global Markets Holdings Inc. priced $589,000 of 0% geared buffered securities due May 5, 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 the initial index level, the payout at maturity will be par plus 300% of the index return, subject to a maximum return of 29%.
If the final index level is less than or equal to the initial index level but greater than or equal to the final buffer value, 85% of the initial index level, the payout will be par.
If the final index level is less than the final buffer value, investors will lose 1.1765% for every 1% that the index declines beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Geared buffer securities
|
| Underlying index: | S&P 500
|
| Amount: | $589,000
|
| Maturity: | May 5, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 300% of index return, subject to 29% maximum return; par if index declines by 15% or less; 1.1765% loss for every 1% that index declines beyond 15%
|
| Initial level: | 2,945.83
|
| Final buffer value: | 2,503.956, or 85% of initial index level
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17326YN69
|
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