By Taylor Fox
New York, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $250,000 of callable equity-linked securities due Jan. 11, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8% per year, payable monthly.
The notes can be redeemed at the option of the issuer on any monthly coupon payment date starting Jan. 11, 2021.
Investors will receive par if the index finishes above its initial level or never closes below 70% of its initial level during the life of the notes, in which case investors will be fully exposed to the losses of the index.
Citigroup Global Markets Inc. is the underwriter
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable equity-linked securities
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| Underlying index: | S&P 500 index
|
| Amount: | $250,000
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| Maturity: | Jan. 11, 2021
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| Coupon: | 8% per year, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par if the index finishes above its initial level or never closes below 70% of its initial level during the life of the notes, in which case investors will be fully exposed to the losses of the index
|
| Call option: | At par on any monthly coupon payment date starting Jan. 11, 2021
|
| Initial prices: | 3,360.95
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| Downside thresholds: | 2,352.665; 70% of initial prices
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 9
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17328WPX0
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