By William Gullotti
Buffalo, N.Y., May 10 – Citigroup Global Markets Holdings Inc. priced $1.24 million of 0% buffer securities due May 1, 2026 linked to the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the ETF finishes above its initial level, the payout at maturity will be par plus 140% of the ETF gain, capped at par plus 45.1%.
If the ETF finishes flat or falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% ETF decline beyond 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 ETF: | Invesco QQQ Trust, Series 1
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Amount: | $1,237,000
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Maturity: | May 1, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 140% of any ETF gain, capped at par plus 45.1%; par if ETF falls by up to 10%; otherwise, 1% loss for every 1% ETF decline beyond 10%
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Initial level: | $328.01
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Buffer level: | $295.209; 90% of initial level
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Pricing date: | April 28
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Settlement date: | May 3
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.3%
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Cusip: | 17330FEY3
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