By William Gullotti
Buffalo, N.Y., Sept. 27 – Citigroup Global Markets Holdings Inc. priced $2.41 million of 0% dual directional barrier securities due July 11, 2024 linked to performance of the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the least performing ETF finishes at or above its initial level, the payout at maturity will be par plus 125% of the return of that ETF capped at 14%.
If the worst performing ETF falls by up to 30%, the payout will be par plus 50% of the absolute value of the return of the worst performer.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Dual directional barrier securities
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| Underlying funds: | iShares Silver Trust, VanEck Vectors Gold Miners ETF
|
| Amount: | $2,405,000
|
| Maturity: | July 11, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the least performing ETF finishes at or above its initial level, par plus 125% of the return of that ETF capped at 14%; if the worst performing ETF falls by up to barrier level, par plus 50% of the absolute value of the return of the worst performer; otherwise, full exposure to decline of the worst performer from its initial level
|
| Initial levels: | $34.56 for Gold, $24.24 for Silver
|
| Barrier levels: | $24.192 for Gold, $16.968 for Silver; 70% of initial levels
|
| Pricing date: | July 7
|
| Settlement date: | July 12
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17329Q5F3
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