By William Gullotti
Buffalo, N.Y., July 27 – Citigroup Global Markets Holdings Inc. priced $5.3 million of 0% contingent buffered digital notes due June 15, 2022 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the ETF finishes at or above 77.5% of its initial value, the payout at maturity will be par plus a fixed return of 10%.
If the ETF falls by more than 22.5%, investors will be fully exposed to the ETF’s decline from its initial value.
Citigroup Global Markets Inc. is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent buffered digital notes
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| Underlying ETF: | Energy Select Sector SPDR fund
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| Amount: | $5.3 million
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| Maturity: | June 15, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the ETF finishes at or above 77.5% of its initial value, par plus a fixed return of 10%; otherwise, full exposure to losses
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| Initial level: | $52.21
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| Barrier price: | $40.463, 77.5% of initial price
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| Pricing date: | May 28
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| Settlement date: | June 3
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| Underwriter | Citigroup Global Markets Inc.
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 17329FEA8
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