By Emma Trincal
New York, Nov. 29 – Citigroup Global Markets Holdings Inc. priced $12 million of 0% dual directional buffer securities due Nov. 29, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus 125% of the index return subject to a maximum return of par plus 22%.
The payout will be par plus 1.25 times the absolute value of the index return if the index declines but ends at or above the 80% buffer level.
Otherwise, investors will lose 1% for every 1% that the index declines beyond the buffer.
The notes are guaranteed by Citigroup Inc.
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: | Dual directional buffer securities
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Underlying index: | S&P 500 index
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Amount: | $12,000,000
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Maturity: | Nov. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 125% of index return subject to a maximum return of par plus 22%; par plus 1.25 times the absolute value of index return if index declines but ends at or above 80% buffer level; 1% loss for every 1% that index declines beyond buffer
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Initial level: | 4,027.26
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Buffer level: | 3,221.808, 80% of initial level
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Upside leverage: | 125%
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Cap: | 22%
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Buffer: | 20%
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Call: | Non-callable
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Pricing date: | Nov. 23
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Settlement date: | Nov. 29
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.35%
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Cusip: | 17330YD72
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