By Marisa Wong
Morgantown, W.Va., Aug. 10 – Citigroup Global Markets Holdings Inc. priced $1.13 million of 0% dual directional barrier securities due Aug. 6, 2020 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 fund finishes at or above the initial share price, the payout at maturity will be par plus the fund return, subject to a maximum return of 34.5%.
If the fund finishes below the initial share price but at or above the barrier price, the payout at maturity will be par plus the absolute value of the fund return. The barrier price will be 70% of the initial share price.
If the fund finishes below the barrier price, investors will be fully exposed to the losses.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1,125,000
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| Maturity: | Aug. 6, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the fund finishes at or above the initial share price, par plus the fund return, subject to a maximum return of 34.5%; if the fund finishes below the initial share price but at or above the barrier price, par plus the absolute value of the fund return; otherwise, full exposure to decline
|
| Initial price: | $66.61
|
| Barrier price: | $46.627, 70% of initial price
|
| Pricing date: | Aug. 1
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| Settlement date: | Aug. 4
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.65%
|
| Cusip: | 17324CLM6
|
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