By Taylor Fox
New York, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $1.5 million of 0% buffer securities due Nov. 3, 2021 linked to the SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the fund finishes above the initial level, the payout at maturity will be par plus 1.3 times the return, subject to the maximum return of par plus 22%.
Investors will receive par if the fund declines, but finishes above the 97.5% buffer value.
If the fund falls by more than 2.5%, investors will lose 1% per 1% fund decline beyond 2.5%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying fund: | SPDR Gold Trust
|
| Amount: | $1,505,000
|
| Maturity: | Nov. 3, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the fund finishes above the initial level, par plus 1.3 times the return, subject to the maximum payout of par plus 22%; par if the fund declines and finishes above 97.5%; otherwise, 1% loss per 1% fund decline beyond 2.5%
|
| Initial level: | $178.19
|
| Buffer value: | $173.73525, 97.5% of initial level
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17328WZ50
|
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