By Marisa Wong
Morgantown, W.Va., May 16 – Citigroup Global Markets Holdings Inc. priced $248,000 of 0% buffer securities due April 30, 2024 linked to the SPDR Dow Jones industrial average exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 80% of any ETF gain.
Investors will receive par if the ETF falls by up to 23%.
If the ETF falls by more than 23%, investors will receive a number of shares of the underlying ETF equal to $1,000 divided by the initial price (or, at the issuer’s option, the cash value of those shares) plus a cash buffer of $230 per $1,000 principal amount.
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: | Buffer securities
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| Underlying ETF: | SPDR Dow Jones industrial average ETF
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| Amount: | $248,000
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| Maturity: | April 30, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 80% of any ETF gain; par if the ETF falls by up to 23%; if the ETF falls by more than 23%, 3.78029 shares of the ETF (or, at the issuer’s option, the cash value of those shares) plus a cash buffer of $230 per $1,000 principal amount
|
| Initial value: | $264.53
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| Buffer value: | $203.688, 77% of initial value
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17326YEP7
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