New York, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $1.38 million of 0% dual directional barrier securities due April 30, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains, the payout will be par plus the ETF return, subject to a maximum return of par plus 35%.
The payout will be par plus the absolute value of the ETF return if the ETF declines but ends at or above the 68% final barrier.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial level or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
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: | Dual directional barrier securities
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Underlying ETF: | SPDR S&P 500 ETF Trust
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Amount: | $1,379,000
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Maturity: | April 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF gains, par plus ETF return, subject to a maximum return of par plus 35%; par plus absolute value of ETF return if ETF declines but ends at or above final barrier; otherwise, receive 2.59794 shares per security or cash value at the issuer’s option
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Initial level: | $384.92
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Cap: | 35%
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Final barrier: | $261.746, 68% of initial level
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Pricing date: | Oct. 25
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Settlement date: | Oct. 28
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.75%
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Cusip: | 17330DKT2
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