By Wendy Van Sickle
Columbus, Ohio, April 12 – Citigroup Global Markets Holdings Inc. priced $439,000 of callable contingent coupon equity-linked securities due March 31, 2022 linked to the SPDR S&P 500 ETF trust, 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 annualized rate of 7% if the ETF closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period.
The notes are callable at par plus the contingent coupon on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless the ETF finishes below the 80% barrier level, in which case investors will be fully exposed to the loss of the ETF.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Callable contingent coupon equity-linked securities
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Underlying ETF: | SPDR S&P 500 ETF trust
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Amount: | $439,000
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Maturity: | March 31, 2022
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Coupon: | 7% per year, payable quarterly if ETF closes at or above coupon barrier on valuation date for that period
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Price: | Par
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Payout at maturity: | Par unless ETF finishes below barrier level, in which case full exposure to loss
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Call: | At par plus contingent coupon on any quarterly call valuation date
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Initial level: | $395.98
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Coupon barrier level: | $316.784, 80% of initial level
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Barrier level: | $316.784, 80% of initial level
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328NKZ0
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