By Kiku Steinfeld
Chicago, June 29 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% geared buffer securities due July 21, 2022 linked to the worst performing of the Financial Select Sector SPDR fund and the Industrial Select Sector SPDR fund, according to a 424B8 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each ETF finishes above its initial value, the payout at maturity will be par plus 2 times the gain in the worst performing ETF, capped at par plus 10.15%.
If the worst performing ETF finishes flat or falls by up to 15%, the payout will be par. par plus the final coupon. Otherwise, investors will lose 1.176471% for each 1% loss of the lesser performing ETF beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Geared buffer securities
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| Underlying ETFs: | Financial Select Sector SPDR fund, Industrial Select Sector SPDR fund
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| Amount: | $1 million
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| Maturity: | July 21, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each ETF finishes above its initial value, par plus 2 times the gain in the worst performing ETF, capped at par plus 10.15%; if the worst performing ETF finishes flat or falls by up to 15%, par; otherwise, investors will lose 1.176471% for each 1% loss of the lesser performing ETF beyond 15%
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| Initial values: | $35.23 for Financial Select, $99.61 for Industrial Select
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| Buffer values: | $29.946 for Financial Select, $84.669 for Industrial Select; 85% of initial values
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| Pricing date: | June 18
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| Settlement date: | June 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17329FX82
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