By William Gullotti
Buffalo, N.Y., May 23 – Citigroup Global Markets Holdings Inc. priced $1.06 million of 0% buffer securities due May 23, 2024 linked to the worst performing of the stocks of Walt Disney Co. and Comcast Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the worse performing stock is greater than or equal to its initial level, the payout at maturity will be par plus 191.5% of the return of that stock.
If the final level of the worse performing stock is less than its initial level but greater than or equal to its 90% buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer below 10%.
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: | Buffer securities
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| Underlying stocks: | Walt Disney Co. and Comcast Corp.
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| Amount: | $1,057,000
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| Maturity: | May 23, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worse performing stock is greater than or equal to its initial level, par plus 191.5% of the return of that stock; if the final level of the worse performing stock is less than its initial level but greater than or equal to its buffer level, par; otherwise, lose 1% for every 1% decline of the worst performer below 10%
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| Initial levels: | $104.30 for Disney, $42.13 for Comcast
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| Buffer levels: | $93.87 for Disney, $37.917 for Comcast; 90% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17330FU90
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