By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – Citigroup Global Markets Holdings Inc. priced $2.13 million of 0% dual directional barrier securities due March 4, 2025 linked to the SPDR S&P 500 ETF trust, according to a 427B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the ETF finishes at or above the initial level, the payout at maturity will be par plus the return of the ETF, up to a maximum return of 30%.
If the ETF falls but finishes at or above the 82% barrier level, the payout at maturity will be par plus the absolute value of the ETF return.
Otherwise, the payout will shares of the ETF equal to the equity ratio or the cash equivalent at the issuer’s option.
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 ETF: | SPDR S&P 500 ETF trust
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| Amount: | $2,133,000
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| Maturity: | March 4, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the ETF finishes at or above the initial level, par plus return of ETF, up to a maximum return of 30%; if the ETF falls but finishes at or above the 82% barrier level, par plus the absolute value of the ETF return; otherwise, 2.22099 ETF shares or cash equivalent at the issuer’s discretion
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| Initial ETF level: | $450.25
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| Barrier level: | $369.205; 82% of initial level
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 1
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17328NVX3
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