By Wendy Van Sickle
Columbus, Ohio, Oct. 30 – Citigroup Global Markets Holdings Inc. priced $1.48 million of callable contingent coupon equity-linked securities due Oct 26, 2022 linked to the worst performing of the Russell 2000 index and the Technology 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 10.25% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any valuation date.
If the notes are not redeemed, the payout will be par plus any final coupon unless either asset finishes below 70% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset.
Citigroup Global Markets Inc.is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | Russell 2000 index and Technology Select Sector SPDR fund
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| Amount: | $1,479,000
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| Maturity: | Oct. 26, 2022
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| Contingent coupon: | 10.25% per year, payable quarterly if each asset closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless either asset finishes below 70% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset
|
| Call option: | In whole at par plus any coupon due on any valuation date
|
| Initial levels: | 1,603.776 for Russell, $119.13 for Technology
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| Coupon barriers: | 1,122.643 for Russell, $83.391 for Technology; 70% of initial levels
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| Final barriers: | 1,122.643 for Russell, $83.391 for Technology; 70% of initial levels
|
| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328WUJ5
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