By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – Citigroup Global Markets Holdings Inc. priced $926,000 of 0% dual directional barrier securities due March 31, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the trust finishes at or above the initial share price, the payout at maturity will be par plus the trust return, subject to a maximum return of 20%.
If the trust finishes below the initial share price but at or above the barrier price, the payout at maturity will be par plus the absolute value of the trust return. The barrier price will be 75% of the initial share price.
If the trust finishes below the barrier price, the payout will be a number of shares of the trust equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
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: | $926,000
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| Maturity: | March 31, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the trust finishes at or above the initial share price, par plus the trust return, subject to a maximum return of 20%; if the trust finishes below the initial share price but at or above the barrier price, par plus the absolute value of the trust return; otherwise, 4.01477 shares of the trust or, at issuer’s option, cash equivalent
|
| Initial price: | $249.08
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| Barrier price: | $186.81, 75% of initial price
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
|
| Cusip: | 17324XCZ1
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