By Wendy Van Sickle
Columbus, Ohio, May 6 – Citigroup Global Markets Holdings Inc. priced $1.7 million callable fixed-to-float CMS spread range accrual securities due April 29, 2037 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The interest rate is 8% for the first two years, payable quarterly. After that, the coupon accrues at an annualized rate of 8% for each day the 30-year Constant Maturity Swap rate minus the two-year Constant Maturity Swap rate is greater than zero and both indexes close at or above 55% of their initial levels.
The notes will be callable at par on any quarterly redemption date after one year.
The payout at maturity will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable fixed-to-float CMS spread range accrual securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $1.7 million
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| Maturity: | April 29, 2037
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| Coupon: | 8% for the first two years, payable quarterly; after that, annualized rate of 8% payable for each day the 30-year CMS rate minus the two-year CMS rate is greater than zero and both indexes close above accrual barrier
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any interest payment date after one year
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| Initial levels: | 4,183.96 for S&P, 1,884.038 for Russell
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| Accrual barrier levels: | 2,301.178 for S&P, 1,036.221 for Russell; 55% of initial levels
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| Pricing date: | April 27
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| Settlement date: | April 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 5%
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| Cusip: | 17330F5D9
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