By Wendy Van Sickle
Columbus, Ohio, May 19 – Citigroup Global Markets Holdings Inc. priced $14.63 million of 0% bearish index-linked notes due June 15, 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.
If the index has closed below the 68% knock-out level on any day during the life of the notes, the payout at maturity will be par.
If the index has not closed below the knock-out level and the final index level is greater than or equal to its initial level, the payout will be par plus 1.9%.
If the index has not closed below the knock-out level and the final index level is less than its initial level but at least 90% of its initial level, the payout will be par.
If the index has not closed below the knock-out level and the final index level is less than 90% of its initial level, the payout will be par plus the absolute value of the index return minus 10%.
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: | Bearish index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $14,632,000
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| Maturity: | June 15, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if index has ever closed below 68% of initial level during life of notes; otherwise, par plus 1.9% if final index level is at least equal to initial level, par if index falls by up to 10%, and par plus absolute value of index return minus 10% if index falls by more than 10%
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| Initial index level: | 4,023.89
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| Knock-out level: | 68% of initial index level
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| Pricing date: | May 13
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| Settlement date: | May 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.93%
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| Cusip: | 17330FPK1
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