Chicago, March 29 – Citigroup Global Markets Holdings Inc. priced $77,000 of callable contingent coupon equity-linked securities due March 3, 2026 linked to the worst performing of iShares MSCI Emerging Markets ETF and the Russell 2000 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 quarterly coupon at an annual rate of 9% if each asset closes at or above the coupon barrier price, 80% of the initial price, on the valuation date for that quarter.
The notes will be callable at par on any quarterly valuation date after one year.
If the notes are not called and each asset finishes at or above final barrier price, 85% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond the 15% buffer.
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: | iShares MSCI Emerging Markets ETF and Russell 2000 index
|
| Amount: | $77,000
|
| Maturity: | March 3, 2026
|
| Coupon: | 9% annualized rate, payable quarterly if each asset closes at or above coupon barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each asset closes at or above final barrier; otherwise, investors will lose 1% for each 1% decline of worst performer beyond 15% buffer
|
| Call option: | Callable at par plus coupon if each asset closes at or above initial level on any quarterly valuation date after one year
|
| Initial levels: | $53.73 for iShares and 2,201.051 for Russell
|
| Coupon barrier levels: | $42.984 for iShares and 1,760.841 for Russell, 80% of initial levels
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| Final barrier levels: | $45.671 for iShares and 1,870.893for Russell, 85% of initial levels
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| Pricing date: | Feb. 26
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| Settlement date: | March 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.125%
|
| Cusip: | 17328YN42
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