By Kiku Steinfeld
Chicago, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $1.19 million of callable geared buffer range accrual notes due Sept. 26, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The interest rate will be 5% per year multiplied by the proportion of days on which the index closes above the accrual barrier level, 75% of the initial index level. Interest will be payable monthly.
Beginning in September 2022, the notes will be callable at par on any interest payment date.
If the final index level is at least 75% of the initial index level, the payout at maturity will be par.
Otherwise, investors will lose 1.333333% for every 1% that the index declines beyond 25%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable geared buffer range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1.19 million
|
| Maturity: | Sept. 26, 2025
|
| Coupon: | 5% per year times the proportion of days on which the index closes above the accrual barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 75% of initial level, par; otherwise, 1.333333% loss for every 1% decline beyond 25% buffer
|
| Call option: | At par on any interest payment date beginning in September 2022
|
| Initial index level: | 3,236.92
|
| Accrual barrier/buffer level: | 2,427.690, 75% of initial level
|
| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328WQN1
|
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