New Issue: Citigroup prices $2.91 million notes with averaging linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Aug. 27 – Citigroup Inc. priced $2.91 million of 0% market-linked notes due Feb. 28, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The average index return will be the average of the index’s returns on the valuation dates, which occur quarter throughout the life of the notes. Each quarterly return will be measured relative to the index’s closing level on the pricing date.

If the average index return is greater than zero, the payout at maturity will be par plus 95% of the average index return. If the average index return is less than or equal to zero, the payout will be par.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Market-linked notes
Amount:	$2,905,000
Maturity:	Feb. 28, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If average index return is greater than zero, par plus 95% of average index return; if average index return is less than or equal to zero, par
Average index return:	Average of index’s returns on 25th day of each February, May, August and November during term of notes
Initial index level:	1,997.92
Pricing date:	Aug. 25
Settlement date:	Aug. 28
Underwriter:	Citigroup Global Markets Inc.
Fees:	3%
Cusip:	1730T0V71

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