By Marisa Wong
Morgantown, W.Va., Dec. 22 – Citigroup Global Markets Holdings Inc. priced $1.04 million of 0% dual directional barrier securities due June 23, 2021 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 fund finishes at or above its initial price, the payout at maturity will be par plus the gain up to a maximum return of 19%.
If the fund falls by up to 27.5%, the payout will be par plus the absolute value of the return.
Otherwise, investors will receive a number of shares of the underlying fund equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities
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| Underlying fund: | SPDR S&P 500 ETF Trust
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| Amount: | $1,036,000
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| Maturity: | June 23, 2021
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | If fund gains, par plus return capped at 19%; if index falls by up to 27.5%, par plus absolute return; otherwise, 3.72856 fund shares or, at issuer’s option, cash equivalent
|
| Initial level: | $268.20
|
| Barrier level: | $194.445, 72.5% of initial level
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324XGQ7
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