By William Gullotti
Buffalo, N.Y., May 10 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% capped buffer in-gears due July 3, 2025 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the index finishes above 88% of its initial level, the payout at maturity will be par plus the return of the index times a 0.7 upside gearing plus a 12% buffer. The payout will be capped at par plus 35%.
For example, if the index declines 5%, the payout would be par plus 4.9%, which could be arrived at by taking negative 5, adding 12%, so positive 7% times the 0.7 upside gearing which equals 4.9%. Investors break even if the index declines 12%.
If the index declines more than 12%, investors will lose 1% for every 1% decline beyond the 12% buffer.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Capped buffer in-gears
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| Underlying index: | Dow Jones industrial average
|
| Amount: | $2 million
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| Maturity: | July 3, 2025
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | If index finishes above 88% of initial level, par plus the return of the index times the 0.7 gearing plus 12% buffer capped at par plus 35%, otherwise, investors will lose 1% for every 1% decline beyond 12% buffer
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| Initial level: | Average of index closing levels over three-month period from April 16 to and including July 15
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| Final level: | Average of index closing levels over the three-month period from April 1, 2025 to and including June 30, 2025
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| Threshold levels: | 88% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 22
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| Agents: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17329D596
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