By Taylor Fox
New York, Sept. 16 – Citigroup Global Markets Holdings Inc. priced $1.75 million of callable contingent coupon equity-linked securities due March 2, 2023 linked to the worst performing of the SPDR S&P 500 ETF trust, the iShares Russell 2000 ETF and the iShares MSCI EAFE ETF, 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 12% if each ETF closes at or above its coupon barrier level, 70% 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 unless any ETF finishes below 65% of its initial level, in which case investors will lose 1% for every 1% that the least performing ETF declines.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying ETFs: | iShares Russell 2000 ETF, iShares MSCI EAFE ETF and SPDR S&P 500 ETF trust
|
| Amount: | $1,750,000
|
| Maturity: | March 2, 2023
|
| Contingent coupon: | 12% per year, payable quarterly if each ETF closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any ETF finishes below its final barrier level, in which case investors will lose 1% for every 1% that the least performing ETF declines
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date
|
| Initial levels: | $76.37 for MSCI EAFE, $227 for Russell and $391.77 for S&P
|
| Coupon barrier levels: | $53.459 for MSCI EAFE, $158.9 for Russell and $274.239 for S&P, 70% of initial levels
|
| Final barrier levels: | $49.641 for MSCI EAFE, $147.55 for Russell and $254.651 for S&P, 65% of initial levels
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17328YS47
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