By Taylor Fox
New York, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $2.63 million of 0% buffer securities due Sept. 30, 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.
Investors will receive par plus 1.25 times the return of the index if the index finishes above its initial value.
Investors will receive par if the index declines but is great than its 85% buffer value.
If the index falls by more than 15%, investors will lose 1% per 1% index decline beyond 15%.
Citigroup Global Markets Inc. is the agent.
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 index: | S&P 500
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Amount: | $2,625,000
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Maturity: | Sept. 30, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.25 times index return if index finishes positive; par if index declines but not more than 15%; otherwise, exposure to losses of index beyond 15% buffer level
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Initial level: | 3,363
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Buffer value: | 2,858.55, 85% of initial level
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.35%
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Cusip: | 17328WYR3
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