By Kiku Steinfeld
Chicago, Jan. 24 – Citigroup Global Markets Holdings Inc. priced $1.1 million of callable contingent coupon equity-linked securities due Aug. 31, 2022 linked to the performance of the S&P 500 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 6.85% if the index closes at or above its coupon barrier level, 85% of its initial level, on the valuation date for that period, in which case any previously unpaid coupons will also be paid.
The notes will be callable in whole at par on any quarterly call valuation date.
If the notes are not redeemed early, the payout will be par unless the index finishes below 85% of its initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $1.1 million
|
| Maturity: | Aug. 31, 2022
|
| Contingent coupon: | 6.85% per year, paid quarterly if the index closes at or above coupon barrier on the valuation date for that period, in which case any previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless the index finishes below its final barrier level, in which case investors will lose 1% for every 1% that the index declines from its initial level
|
| Call option: | In whole at par on any quarterly call valuation date
|
| Initial level: | 4,470.00
|
| Barrier level: | 3,799.50, 85% of initial level
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17329QU99
|
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