By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% buffer securities due Jan. 13, 2023 linked to the worse 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.
If the final level of the lesser-performing index is 88% of its initial level, the payout at maturity will be par plus 1.6125% for each 1% the lesser-performing index finishes above 88%, subject to a maximum payout of par plus 64.5%.
If the final level of the lesser-performing index is less than its initial level by more than 12%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 12%.
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: | Buffer securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2 million
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| Maturity: | Jan. 13, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of lesser-performing index is greater than or equal to 88% of its initial level, par plus 161.25% of difference between return of lesser-performing index and 88%, capped at 64.5%; if lesser-performing index falls by more than 12%, full exposure to decline
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| Initial levels: | 1,492.822 for Russell, 2,578.85 for S&P
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324CPB6
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