By William Gullotti
Buffalo, N.Y., July 29 – Citigroup Global Markets Holdings Inc. priced $1.45 million of callable contingent coupon equity-linked securities due June 5, 2031 linked to the performance of the SPDR S&P Regional Banking ETF and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 10% if each underlying closes at or above its coupon barrier level, 75% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date.
If the notes are not redeemed early, the payout will be par plus the final coupon if each underlier finishes at or above the coupon barrier.
If any underlier lags below the coupon barrier but all finish at or above the 60% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least performing asset declines from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying assets: | SPDR S&P Regional Banking ETF, Euro Stoxx Banks index
|
| Amount: | $1,446,000
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| Maturity: | June 5, 2031
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| Contingent coupon: | 10% per year, payable quarterly if each underlying closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above coupon barrier, par plus the final coupon; if any underlier lags below coupon barrier but all finish above the final barrier, par; otherwise, investors will lose 1% for each 1% the worst performer declines from its initial level
|
| Call option: | In whole at par on any quarterly valuation date
|
| Initial levels: | $70.60 for ETF, 99.88 for Stoxx Banks
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| Coupon barrier levels: | $52.95 for ETF, 74.91 for Stoxx Banks; 75% of initial levels
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| Final barrier levels: | $42.36 for ETF, 59.928 for Stoxx Banks; 60% of initial levels
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| Pricing date: | June 2
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| Settlement date: | June 7
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.65%
|
| Cusip: | 17329FR97
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