By William Gullotti
Buffalo, N.Y., April 14 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon equity-linked 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 annualized rate of 5.5% if the index closes at or above its coupon barrier level, 50% 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 call valuation date.
If the notes are not redeemed early, the payout will be par plus the final coupon unless the index finishes below 50% 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.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | April 11, 2024
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| Contingent coupon: | 5.5% per year, payable quarterly if the index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the index finishes below its final barrier level, in which case investors will lose 1% for every 1% that the index declines from initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date
|
| Initial levels: | 4,488.28
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| Coupon barrier levels: | 2,244.14; 50% of initial levels
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| Barrier levels: | 2,244.14; 50% of initial levels
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| Pricing date: | April 8
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| Settlement date: | April 13
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.15%
|
| Cusip: | 17330FC82
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