By William Gullotti
Buffalo, N.Y., June 10 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon equity-linked securities due June 1, 2026 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 6.4% if the index closes at or above its coupon barrier level, 70% 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 after one year.
If the notes are not redeemed early and the index finishes at or above its 70% trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% of index decline below trigger 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: | June 1, 2026
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| Contingent coupon: | 6.4% 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 trigger level, in which case investors will lose 1% for every 1% that the index declines beyond 30%
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date after one year
|
| Initial levels: | 4,158.24
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| Coupon barrier levels: | 2,910.768; 70% of initial levels
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| Trigger levels: | 2,910.768; 70% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
|
| Cusip: | 17330FR52
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