By William Gullotti
Buffalo, N.Y., April 23 – Citigroup Global Markets Holdings Inc. priced $2.11 million of 0% buffered commodity-linked notes due May 21, 2025 tied to the London Metal Exchange official price, in U.S. dollars, per metric tonne for grade A copper, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par plus 1.5 times any commodity gain, up to the maximum settlement amount of $1,282 per $1,000 principal amount of notes.
If the commodity falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1.1111% for every 1% decline beyond 10%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffered commodity-linked notes
|
| Underlying commodity: | Copper
|
| Amount: | $2,108,000
|
| Maturity: | May 21, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any commodity gain, capped at $1,282 per $1,000 principal amount of notes; if commodity falls by up to 10%, par; otherwise, 1.1111% loss for every 1% decline beyond 10%
|
| Initial level: | $9,434.00
|
| Buffer level: | 90% of initial level
|
| Pricing date: | April 17
|
| Settlement date: | April 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.08%
|
| Cusip: | 17331AS69
|
|
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