By Wendy Van Sickle
Columbus, Ohio, June 16 – Citigroup Global Markets Holdings Inc. priced $3 million of 0% dual directional barrier securities due June 8, 2022 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 gains or finishes flat, the payout will be par plus the return of the index, capped at par plus 16%.
If the index falls but not below the 75.9% barrier level, the payout will be par plus the absolute value of the index’s return.
If the index falls below the barrier level, the payout will be par plus the return of the index with full exposure to the decline.
Citigroup Global Markets Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities
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| Underlying index: | S&P 500
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| Amount: | $3 million
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| Maturity: | June 8, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index gains or finishes flat, par plus the return of the index, capped at par plus 16%; if the index falls but finishes at or above the barrier level, par plus the absolute value of the index’s return; if the index finishes below the barrier level, par plus the return of the index with full exposure to the decline
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| Initial index level: | 3,193.93
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| Barrier level: | 2,424.193, 75.9% of initial level
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| Pricing date: | June 5
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| Settlement date: | June 10
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| Underwriter: | Citigroup Global Markets Inc.
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1.5%
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| Cusip: | 17328VKC3
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