By Marisa Wong
Morgantown, W.Va., April 3 – Citigroup Global Markets Holdings Inc. priced $4.2 million of 0% dual directional barrier securities due Oct. 1, 2020 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 finishes at or above the initial level, the payout at maturity will be par plus the index return, up to a maximum upside return of 20%.
If the index finishes below the initial level but at or above the 70% barrier level, the payout at maturity will be par plus the absolute value of the index return.
If the index finishes below the barrier level, investors will be exposed to the index’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
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: | $4,202,000
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Maturity: | Oct. 1, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above initial level, par plus index return, capped at 20%; if index finishes below initial level but at or above barrier level, par plus absolute value of index return; if index finishes below barrier level, exposure to index’s decline from initial level
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Initial level: | 2,341.59
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Barrier level: | 1,639.113, 70% of initial level
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Pricing date: | March 27
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Settlement date: | March 30
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17324CFS0
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