By Marisa Wong
Morgantown, W.Va., Feb. 17 – Citigroup Inc. priced $18.84 million of 0% contingent buffered notes due Feb. 21, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 125% of the index return.
If the final index level is less than or equal to the initial index level but greater than or equal to the barrier level, 70.85% of the initial level, the payout will be par.
If the final index level is less than the barrier level, investors will be fully exposed to the index’s decline from its initial level.
The final index level will be the average of the index’s closing levels on the five trading days ending Feb. 15, 2019.
Citigroup Global Markets Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Citigroup Inc.
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| Issue: | Contingent buffered notes
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| Underlying index: | S&P 500
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| Amount: | $18,835,000
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| Maturity: | Feb. 21, 2019
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 125% of any index gain; if the final index level is less than or equal to the initial index level but greater than or equal to the barrier level, par; if the final index level is less than the barrier level, investors will be fully exposed to the index’s decline from its initial level.
|
| Initial level: | 1,864.78
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| Barrier level: | 1,321.197, 70.85% of initial level
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
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| Underwriter: | Citigroup Global Markets Inc. with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
|
| Fees: | 2%
|
| Cusip: | 17298CA65
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