By Susanna Moon
Chicago, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $926,000 of 0% dual directional barrier securities due April 29, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes at or above its initial level, the payout at maturity will be par plus the gain up to a maximum return of 18%.
If the fund falls by up to the 70% barrier level, the payout at maturity will be par plus the absolute value of the trust return.
Otherwise, the payout will be a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
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 fund: | SPDR S&P 500 ETF trust
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| Amount: | $2,691,000
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| Maturity: | April 29, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund gains, par plus gain capped at 18%; if fund falls by up to barrier, par plus absolute return; otherwise, 3.91206 shares
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| Initial price: | $255.62
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| Barrier price: | $178.934, 70% of initial price
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324XDJ6
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