By William Gullotti
Buffalo, N.Y., April 14 – Citigroup Global Markets Holdings Inc. priced $1.25 million of 0% buffered digital notes due May 15, 2024 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.
If the final level of the ETF is greater than or equal to its final buffer value, 87.3% of its initial level, the payout at maturity will be par plus 10%.
Otherwise, investors will receive a number of shares per note equal to $10,000 divided by the ETF’s buffer value or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, N.A. will act as placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Buffered digital notes
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| Underlying fund: | SPDR S&P 500 ETF Trust
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| Amount: | $1.25 million
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| Maturity: | May 15, 2024
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| Coupon: | 0%
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| Price: | Par of $10,000
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| Payout at maturity: | If the final ETF level is greater or equal to 87.3% of its initial level, par plus 10%; otherwise, receive 27.99372 shares per note or, at the issuer’s option, the cash equivalent
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| Initial ETF level: | $409.19
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| Buffer value: | $357.223; 87.3% of initial level
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| Strike date: | April 6
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| Pricing date: | April 10
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| Settlement date: | April 13
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| Underwriter: | Citigroup Global Markets Inc.
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, N.A.
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| Fees: | 1.042%
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| Cusip: | 17331AFU0
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