By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $785,000 of 0% buffer securities due Nov. 1, 2024 linked to the SPDR Dow Jones industrial average ETF trust, 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 any ETF gain, capped at par plus 50%.
Investors will receive par if the ETF falls by up to 20%.
If the ETF falls by more than 20%, 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 $200 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 trust
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| Amount: | $785,000
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| Maturity: | Nov. 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any ETF gain, capped at par plus 50%; par if the ETF falls by up to 20%; if the ETF falls by more than 20%, 3.69181 shares of the ETF (or, at the issuer’s option, the cash value of those shares) plus a cash buffer of $200 per $1,000 principal amount
|
| Initial value: | $270.87
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| Buffer value: | $216.696, 80% of initial value
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 1
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17324XSL5
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