By William Gullotti
Buffalo, N.Y., March 26 – Citigroup Global Markets Holdings Inc. priced $22.53 million of 0% buffer absolute return securities due Sept. 22, 2025 linked to West Texas Intermediate Light Sweet Crude Oil Futures Contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the commodity finishes flat or positive, the payout at maturity will be par plus the return.
Investors will gain 1% for each 1% decline if the commodity falls by no more than 28.5% and lose 1% for each 1% that it declines beyond 28.5%.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffer absolute return securities
|
| Underlying commodity: | West Texas Intermediate Light Sweet Crude Oil Futures Contracts
|
| Amount: | $22,525,000
|
| Maturity: | Sept. 22, 2025
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the commodity finishes flat or positive, par plus the return; if commodity falls but finishes at or above downside threshold, par plus absolute value of commodity’s return; otherwise, lose 1% for each 1% that the commodity declines beyond downside threshold
|
| Initial level: | $83.47
|
| Downside threshold: | $59.68; 71.5% of initial level
|
| Strike date: | March 19
|
| Pricing date: | March 21
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| Settlement date: | March 26
|
| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17331N558
|
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