By Wendy Van Sickle
Columbus, Ohio, Jan. 29 – Citigroup Global Markets Holdings Inc. priced $599,000 of 0% dual directional barrier securities due Feb. 3, 2021 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 1.25 times the index return, subject to a maximum return of par plus 49%.
If the index finishes below the initial level but at or above the barrier level, 80% of the initial level, the payout at maturity will be par plus the absolute value of the index return.
If the index finishes below the barrier level, investors will have one-to-one exposure to the index’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: | Dual directional barrier securities
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| Underlying index: | S&P 500
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| Amount: | $599,000
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| Maturity: | Feb. 3, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the index finishes at or above the initial level, plus 1.25 times index return, capped at par plus 49%; if the index finishes below the initial level but at or above the barrier level, par plus the absolute value of the index return; if the index finishes below the barrier level, one-to-one exposure to the index’s decline from its initial level
|
| Initial level: | 3,295.47
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| Barrier level: | 2,636.376, 80% of initial level
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 31
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.75%
|
| Cusip: | 17327TE28
|
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