Chicago, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $2.57 million of callable contingent coupon equity-linked securities due April 20, 2023 linked to the Energy Select Sector SPDR fund, 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 10% if the ETF closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes may be called at par plus the contingent coupon on any quarterly potential redemption date.
The payout at maturity will be par plus the final coupon unless the ETF finishes below its 70% final barrier level, in which case investors will lose 1% for each 1% decline from the initial level, payable in shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying stock: | Energy Select Sector SPDR fund
|
| Amount: | $2,569,000
|
| Maturity: | April 20, 2023
|
| Coupon: | 10% annually, payable quarterly, if ETF closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, full downside exposure to the ETF decline, payable in cash or 20.66116 shares at the issuer’s option
|
| Call option: | Callable on any quarterly potential redemption date at par plus any coupon
|
| Initial share price: | $48.40
|
| Coupon barrier price: | $33.88; 70% of initial level
|
| Final barrier price: | $33.88; 70% of initial level
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328NNE4
|
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