By Wendy Van Sickle
Columbus, Ohio, June 7 – Citigroup Global Markets Holdings Inc. priced $1.68 million of callable contingent coupon equity-linked securities due May 31, 2024 linked to the stock performance of Energy Transfer LP, 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 14% if the stock closes at or above its coupon barrier level, 50.5% of its initial level, on the related observation date.
The notes will be callable in whole, at the option of the issuer, at par plus any coupon due on any quarterly valuation date.
If the notes are not redeemed early and the stock finishes at or above 50.5% of its initial level, the payout will be par plus the final coupon.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial level or, at the issuer’s option, the cash equivalent.
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 stock: | Energy Transfer LP
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| Amount: | $1,677,000
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| Maturity: | May 31, 2024
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| Contingent coupon: | 14% per year, payable quarterly if the stock closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | If the stock finishes at or above final barrier, par plus final coupon; otherwise, receive 86.43042 shares per security or, at the issuer’s option, the cash equivalent
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date
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| Initial level: | $11.57
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| Coupon barrier level: | $5.843; 50.5% of initial level
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| Final barrier level: | $5.843; 50.5% of initial level
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| Pricing date: | May 26
|
| Settlement date: | June 1
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17330DDL7
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