A story in the March 1 edition of the Prospect News Structured Products Daily incorrectly described the payout at maturity of Citigroup Global Markets Holdings Inc.’s 0% buffer securities due Feb. 29, 2024 linked to the SPDR Dow Jones Industrial Average ETF Trust. A corrected version follows.
Columbus, Ohio, Feb. 28 – Citigroup Global Markets Holdings Inc. priced $1.02 million of 0% buffer securities due Feb. 29, 2024 linked to the SPDR Dow Jones Industrial Average ETF Trust, 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 0.85 times any fund gain. Investors will receive par if the fund falls by up to 25% and will receive 3.83303 shares of the fund plus $250 in cash if the fund falls beyond the 25% buffer.
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: | Buffer securities
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| Underlying fund: | SPDR Dow Jones Industrial Average ETF Trust
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| Amount: | $1,015,000
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| Maturity: | Feb. 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 0.85 times any fund gain; par if the fund falls by up to 25%; 3.83303 shares of the fund plus $250 in cash if the fund falls beyond the 25% buffer
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| Initial price: | $260.89
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| Buffer price: | $195.668, 75% of initial price
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17326YNB8
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