New Issue: Citigroup prices $600,000 bearish contingent absolute return notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 10 – Citigroup Global Markets Holdings Inc. priced $600,000 of 0% bearish contingent absolute return market-linked notes due Dec. 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

If the final index level is less than the initial level or if the index has closed below the 64.2% downside knock-out level any day during the life of the notes, the payout at maturity will be par.

Otherwise, investors will receive par plus the absolute value of the index return.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Contingent absolute return market-linked notes
Underlying index:	S&P 500
Amount:	$600,000
Maturity:	Dec. 30, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the final index level is greater than the initial level or if the index has closed below the downside knock-out level any day during the life of the notes, par; otherwise, par plus absolute value of index return
Initial level:	2,913.78
Downside knock-out level:	1,870.647, 64.2% of initial level
Pricing date:	June 27
Settlement date:	July 2
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.5%
Cusip:	17327TFV3

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