New Issue: Citigroup sells $1.23 million buffer securities linked to Russell, S&P

By William Gullotti

Buffalo, N.Y., March 28 – Citigroup Global Markets Holdings Inc. priced $1.23 million of 0% buffer securities due Nov. 1, 2028 linked to the worst performing of the S&P 500 index and the Russell 2000 index, 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 112% of any positive return of the laggard index.

If the laggard index falls by up to 20%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond the 20% buffer.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Buffer securities
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$1,226,000
Maturity:	Nov. 1, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 112% of any positive return of laggard index; par if laggard index falls by up to 20%; otherwise, 1% loss for each 1% decline beyond buffer
Initial levels:	4,183.18 for S&P, 2,304.158 for Russell
Buffer levels:	3,346.544 for S&P, 1,843.326 for Russell; 80% of initial levels
Pricing date:	April 28, 2021
Settlement date:	April 30, 2021
Underwriter:	Citigroup Global Markets Inc.
Fees:	3.75%
Cusip:	17329FE59

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