By Kiku Steinfeld
Chicago, Jan. 7 – Citigroup Global Markets Holdings Inc. priced $3.2 million of 0% barrier securities due Nov. 16, 2023 linked to the worst performing of the common stocks of Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the worst performing underlying finishes above its initial value, the payout at maturity will be par plus 1.7125 times the gain of that underlying.
If the final value of the worst performing underlying is less than or equal to its initial value but greater than or equal to its barrier value, 75% of the initial value, the payout will be par.
If the final value of the worst performing underlying is less than the barrier value, investors will be fully exposed to the decline of that underlying.
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: | Barrier securities
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| Underlyings: | Goldman Sachs Group, Inc., JPMorgan Chase & Co. and Bank of America Corp.
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| Amount: | $3,202,000
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| Maturity: | Nov. 16, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.7125 times any gain in the worst performing underlying; par if the worst performing underlying finishes at or below its initial value but at or above its barrier value; otherwise, full exposure to the decline of the worst performing underlying
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| Initial values: | $47.49 for BofA, $402.34 for Goldman, $167.61 for JPMorgan
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| Barrier values: | $35.618 for BofA, $301.755 for Goldman, $125.708 for JPMorgan; 75% of initial values
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| Pricing date: | Nov. 12
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| Settlement date: | Nov. 17
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17329U3Y5
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