By Wendy Van Sickle
Columbus, Ohio, June 22 – Citigroup Global Markets Holdings Inc. priced $772,000 of 0% barrier securities due Dec. 21, 2023 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus the ETF return.
If the final share price is less than the initial share price but greater than or equal to the 80% barrier price, the payout will be par.
If the final share price is less than the barrier price, investors will receive a fixed number of shares of the ETF equal to its equity ratio or, if the issuer prefers, the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
|
| Underlying ETF: | SPDR S&P 500 ETF trust
|
| Amount: | $772,000
|
| Maturity: | Dec. 21, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to initial share price, par plus ETF return; if final share price is less than initial share price but greater than or equal to barrier price, par; if final share price is less than barrier price, a fixed number of shares of ETF equal to its equity ratio or, if issuer prefers, cash value
|
| Initial share price: | $311.78
|
| Barrier price: | $249.424; 80% of initial share price
|
| Equity ratio: | 3.20739
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17324XH78
|
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