New Issue: Citi sells $700,000 barrier securities with upside reset feature on S&P, Dow

By Sarah Lizee

Olympia, Wash., May 7 – Citigroup Global Markets Holdings Inc. priced $700,000 of barrier securities with upside reset feature due May 7, 2025 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The upside barrier level will be the initial underlying level of the lesser performing index unless a reset event has occurred, in which case the upside barrier level will be 85% of the initial underlying level of the lesser performing index. A reset event will occur if on any trading day until April 30, 2021, either underlier closes below 85% of its initial underlying level.

If the final underlying level of the lesser performing index is greater than the upside barrier level, the payout at maturity will be par plus 125% of the return of the lesser performing index.

If the final underlying level of the lesser performing index is less than or equal to the upside barrier level but greater than or equal to the downside barrier level, 70% of the initial underlying level, the payout will be par.

If the final underlying level is less than the downside barrier level, investors will be fully exposed to the decline of the lesser performing index.

Citigroup Global Markets Inc. is the agent.

Issuer:	Citigroup Global Markets Holdings Inc.
Issue:	Barrier securities with upside reset feature
Underlying indexes:	S&P 500 index, Dow Jones industrial average
Amount:	$700,000
Maturity:	May 7, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the final level of the lesser performing index is greater than the upside barrier level, par plus 125% of the return of the lesser performing index; if the final level of the lesser performing index is less than or equal to the upside barrier level but greater than or equal to the downside barrier level, par; otherwise, full exposure to decline of lesser-performing index
Reset event:	Occurs if on any scheduled trading day until April 30, 2021, either underlier closes below 85% of its initial underlying value
Upside barrier value:	Initial level of the lesser performing index if a reset event has not occurred; if a reset event has occurred, 85% of the initial level of the lesser performing index
Initial levels:	24,345.72 for Dow, 2, 2,912.43 for S&P
Reset barrier levels:	20,693.862 for Dow, 2,475.566 for S&P, 85% of initial levels
Downside barrier levels:	17,042.004 for Dow, 2,038.701 for S&P, 70% of initial levels
Pricing date:	April 30
Settlement date:	May 7
Agent:	Citigroup Global Markets Inc.
Fees:	1%
Cusip:	17328VPJ3

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