By Sarah Lizee
Olympia, Wash., July 5 – Citigroup Global Markets Holdings Inc. priced $573,000 of 0% barrier securities due Oct. 1, 2020 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 share price is greater than the initial share price, the payout at maturity will be par plus the ETF return, capped at par plus 13%.
If the final share price is less than or equal to the initial share price but greater than or equal to the 85% barrier price, the payout will be par.
Otherwise, investors will receive a number of shares of the ETF equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
|
| Underlying ETF: | SPDR S&P 500 ETF trust
|
| Amount: | $573,000
|
| Maturity: | Oct. 1, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than initial share price, par plus the ETF return, capped at par plus 13%; if final share price is less than or equal to initial share price but greater than or equal to barrier price, par; otherwise, 3.43053 shares of ETF or, at issuer’s option, cash equivalent
|
| Initial share price: | $291.50
|
| Barrier price: | $247.775, 85% of initial share price
|
| Pricing date: | June 27
|
| Settlement date: | July 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XNG1
|
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