By Marisa Wong
Los Angeles, May 8 – Citigroup Global Markets Holdings Inc. priced $250,000 of 0% buffer securities due April 28, 2025 linked to the SPDR S&P 500 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 any ETF gain, capped at par plus 60%.
Investors will receive par if the ETF falls by up to 15%.
If the ETF falls by more than 15%, investors will receive a number of shares of the underlying ETF equal to $1,000 divided by the initial price – or, at the issuer’s option, the cash value of those shares – plus a cash buffer of $150 per $1,000 principal amount.
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: | Buffer securities
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Underlying ETF: | SPDR S&P 500 ETF trust
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Amount: | $250,000
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Maturity: | April 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any ETF gain, capped at par plus 60%; par if the ETF falls by up to 15%; if the ETF falls by more than 15%, 3.58320 shares of the ETF (or, at the issuer’s option, the cash value of those shares) plus a cash buffer of $150 per $1,000 principal amount
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Initial value: | $279.08
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Buffer value: | $237.218, 85% of initial value
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Pricing date: | April 23
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Settlement date: | April 28
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17324XF21
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