By Kiku Steinfeld
Chicago, Jan. 27 – Citigroup Global Markets Holdings Inc. priced $1.55 million of 0% dual directional buffer securities due Feb. 1, 2021 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 index closes at or above its initial level, the payout at maturity will be par plus the index return, up to a 7% maximum upside return.
If the final value of the index falls by up to 9% of its initial level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1.0989% for each 1% decline of the index beyond 9%.
Citigroup Global Markets Inc. is the underwriter and J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional buffer securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,550,000
|
| Maturity: | Feb. 1, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index closes at or above initial level, par plus index return, up to a 7% maximum upside return; if index falls by up to 9%, par plus the absolute value of index return; otherwise 1.0989% loss for each 1% decline of the index beyond 9%
|
| Initial level: | 3,289.29
|
| Buffer value: | 2,993.254, 91% of initial level
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
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| Underwriter: | Citigroup Global Markets Inc.
|
| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 17327T2J4
|
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