By William Gullotti
Buffalo, N.Y., July 21 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% barrier securities due July 23, 2025 linked to the Technology Select Sector SPDR Fund, 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 200% of any ETF gain, capped at par plus 52.25%.
If the ETF finishes flat or falls by up to 20%, the payout will be par. Otherwise, investors be fully exposed to the ETF’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Barrier securities
|
| Underlying ETF: | Technology Select Sector SPDR Fund
|
| Amount: | $1,999,000
|
| Maturity: | July 23, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any ETF gain, capped at par plus 52.25%; par if ETF falls by up to 20%; otherwise, 1% loss for every 1% ETF decline from initial level
|
| Initial level: | $131.10
|
| Barrier level: | $104.88; 80% of initial level
|
| Pricing date: | July 18
|
| Settlement date: | July 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17330PLY3
|
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