By William Gullotti
Buffalo, N.Y., Feb. 21 – Citigroup Global Markets Holdings Inc. priced $6.44 million of 0% dual directional buffer participation securities due March 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s final level is greater than its initial level, the payout at maturity will be par plus 1.5 times the index’s return, subject to a maximum return of 22%.
If the index’s final level is less than or equal to its initial level but greater than or equal to its final buffer level, 90% of its initial level, the payout will be par plus the absolute value of the index’s return.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter, with Morgan Stanley Wealth Management as a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional buffer participation securities
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| Underlying index: | S&P 500 index
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| Amount: | $6,441,020
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| Maturity: | March 5, 2025
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | If the index’s final level is greater than or equal to initial level, par plus 1.5 times the index’s return, subject to 22% cap; if the index’s final level is less than initial level but greater than or equal to final buffer level, par plus absolute value of the index’s return; otherwise, 1% loss for every 1% that the index declines beyond 10%
|
| Initial level: | 4,136.13
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| Final buffer level: | 90% of initial index level
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 17
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| Underwriter: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 17331D741
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