By Kiku Steinfeld
Chicago, Dec. 17 – Citigroup Global Markets Holdings Inc. priced $1.96 million of 0% index-linked notes due Jan. 11, 2023 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.
The payout at maturity will be par plus any index gain, subject to a maximum gain of 18.4%
If the index declines by up to 20%, the payout will be par plus the index return, subject to a maximum loss of 5%.
Otherwise, investors will receive 95% of par minus 1.1875% for each 1% decline of the index beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,955,000
|
| Maturity: | Jan. 11, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, subject to maximum gain of 18.4%; if index declines by up to 20%, par plus index return, subject to maximum loss of 5%; if index declines by more than 20%, 95% of par minus 1.1875% for each 1% that index declines beyond 20%
|
| Initial level: | 3,672.82
|
| Buffer level: | 80% of initial level
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.8%
|
| Cusip: | 17328YA61
|
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