By Kiku Steinfeld
Chicago, May 11 – Citigroup Global Markets Holdings Inc. priced $2.46 million of callable contingent coupon equity-linked securities due April 28, 2022 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 14.35% if the fund closes at or above its coupon barrier level, 50%of the initial value, on the related observation date.
The notes will be callable at par on any quarterly observation date other than the final one.
If the notes are not called and the fund finishes at or above its 50% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the fund.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $2,456,000
|
| Maturity: | April 28, 2022
|
| Contingent coupon: | 14.35% per year, payable each quarter that underlying fund closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If fund finishes at or above barrier value, par; otherwise, full exposure to decline of fund
|
| Call option: | At par on any observation date other than final one
|
| Initial values: | $34.62
|
| Coupon barrier: | $17.31, 50% of initial level
|
| Barrier value: | $17.31, 50% of initial level
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328VR93
|
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