By William Gullotti
Buffalo, N.Y., April 12 – Citigroup Global Markets Holdings Inc. priced $6.43 million of contingent income securities due April 11, 2024 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 annual rate of 6.65% if the index closes at or above its coupon barrier level, 75% of its initial index level, on the relevant observation date.
If the index finishes at or above the 75% downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the index from its initial level.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income callable securities
|
| Underlying index: | S&P 500 index
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| Amount: | $6,427,000
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| Maturity: | April 11, 2024
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| Coupon: | 6.65% per year, payable quarterly if the index closes at or above coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless the index finishes below its downside threshold level; otherwise, investors will lose 1% for every 1% decline from initial level
|
| Initial level: | 4,500.21
|
| Coupon barrier: | 3,375.158; 75% of initial levels
|
| Downside threshold: | 3,375.158; 75% of initial levels
|
| Pricing date: | April 7
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| Settlement date: | April 12
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| Underwriter: | Citigroup Global Markets Inc.
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 17330FJ77
|
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