By William Gullotti
Buffalo, N.Y., April 28 – Citigroup Global Markets Holdings Inc. priced $5 million of 0% barrier securities due June 23, 2023 linked to the Health Care 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 above its initial level, the payout at maturity will be par plus 300% of any ETF gain, capped at par plus 11%.
If the ETF finishes flat or falls by up to 15%, the payout will be par. Otherwise, investors be fully exposed to the ETF’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Barrier securities
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| Underlying ETF: | Health Care Select Sector SPDR Fund
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| Amount: | $5 million
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| Maturity: | June 23, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 300% of any ETF gain, capped at par plus 11%; par if ETF falls by up to 15%; otherwise, 1% loss for every 1% ETF decline from initial level
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| Initial level: | $140.28
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| Barrier level: | $119.238; 85% of initial level
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| Pricing date: | April 20
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| Settlement date: | April 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17330F4M0
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