By Taylor Fox
New York, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $716,000 of callable contingent coupon equity-linked securities due Nov. 3, 2025 linked 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 will pay a contingent monthly coupon at annual rate of 6.03% if the index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any monthly potential redemption date after six months.
The payout at maturity will be par plus the final coupon unless the index finishes below its 60% barrier, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $716,000
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| Maturity: | Nov. 3, 2025
|
| Coupon: | 6.03% annualized rate, payable monthly if index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Call option: | At par plus any coupon due on any monthly potential redemption date after six months
|
| Payout at maturity: | Par plus any coupon due if index finishes above barrier level; otherwise, 1% loss for each 1% decline of worse performing index from initial level
|
| Initial level: | 3,310.11
|
| Coupon barrier: | 2,317.077, 70% of initial levels
|
| Barrier value: | 1,986.066, 60% of initial levels
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17328WZC5
|
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