By William Gullotti
Buffalo, N.Y., June 15 – Citigroup Global Markets Holdings Inc. priced $5 million of 0% digital securities due June 10, 2025 linked to the worst performing of the Communication Services Select Sector SPDR Fund and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the final level of the least-performing ETF is greater than or equal to its initial level, the payout at maturity will be par plus 53%.
Otherwise, investors will be fully exposed to any decline of the worst performer.
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: | Digital securities
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| Underlying funds: | Invesco QQQ Trust, Series 1, Communication Services Select Sector SPDR Fund
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| Amount: | $5 million
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| Maturity: | June 10, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of the least-performing ETF is greater than or equal to its initial level, par plus 53%; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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| Initial levels: | $59.62 for SPDR, $306.20 for QQQ
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| Pricing date: | June 3
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| Settlement date: | June 10
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17330FRF0
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