By Kiku Steinfeld
Chicago, July 7 – Citigroup Global Markets Holdings Inc. priced $608,000 of 0% buffer securities due May 29, 2026 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 50%.
Investors will receive par if the ETF falls by up to 10%.
If the ETF falls by more than 10%, investors will receive a number of ETF shares equal to $1,000 divided by the initial share price (or, at the issuer’s option, the cash value of those shares), plus a cash buffer of $100 per $1,000 principal amount.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| 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: | $608,000
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| Maturity: | May 29, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus any ETF gain, capped at par plus 50%; par if the ETF falls by up to 10%; otherwise, 2.38567 shares of the ETF (or, at the issuer’s option, the cash value of those shares), plus a cash buffer of $100 per $1,000 principal amount
|
| Initial value: | $419.17
|
| Buffer value: | $377.253, 90% of initial value
|
| Pricing date: | May 24
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| Settlement date: | May 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17328NUH9
|
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