By Wendy Van Sickle
Columbus, Ohio, April 20 – Citigroup Global Markets Holdings Inc. priced $961,000 of 0% dual directional buffer securities due April 21, 2022 linked to the lesser performing of the S&P 500 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing asset’s final level is greater than its initial level, the payout at maturity will be par plus 1.02 times that asset’s return.
If the lesser-performing asset’s final level is less than or equal to its initial level but greater than or equal to its final buffer level, 85% of its initial level, the payout will be par plus the absolute value of the lesser-performing asset’s return.
If the lesser-performing asset’s final level is less than its final buffer level, investors will lose 1% for every 1% that the lesser-performing asset declines beyond 15%.
The notes are guaranteed by Citigroup Inc.
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: | Dual directional buffer securities
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Underlying assets: | S&P 500 and iShares MSCI EAFE ETF
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Amount: | $961,000
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Maturity: | April 21, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing asset’s final level is greater than or equal to initial level, par plus 1.02 times that asset’s return; if lesser-performing asset’s final level is less than initial level but greater than or equal to final buffer level, par plus absolute value of lesser-performing asset’s return; if lesser-performing asset’s final level is less than final buffer level, 1% loss for every 1% that lesser-performing asset declines beyond 15%
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Initial index levels: | 2,799.55 for S&P 500 and $54.30 for ETF
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Final buffer levels: | 2,379.618 for S&P 500 and $46.155 for ETF, or 85% of initial index levels
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Pricing date: | April 15
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Settlement date: | April 17
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.5%
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Cusip: | 17328VRD4
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