By William Gullotti
Buffalo, N.Y., March 14 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% barrier digital plus notes due March 14, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index finishes at or above the initial level, the payout at maturity will be par plus greater of the index’s gain and the fixed return of 16.7%, subject to a maximum payout of par plus 30%.
If the index falls but finishes at or above the 80% barrier level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline.
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 digital plus notes
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Underlying index: | S&P 500 index
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Amount: | $2 million
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Maturity: | March 14, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to initial level, par plus greater of index’s return and 16.7%, subject to maximum payout of par plus 30%; par if index falls by up to 20%; otherwise, full exposure to decline from initial level
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Initial level: | 4,170.7
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Barrier level: | 3,336.56; 80% of initial level
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Strike date: | March 8
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Pricing date: | March 9
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Settlement date: | March 14
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17330AX56
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