By Kiku Steinfeld
Chicago, Nov. 10 – Citigroup Global Markets Holdings Inc. priced $210,000 of principal-at-risk securities due Sept. 16, 2023 linked to the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be paid monthly at an annualized rate of 21.91%.
At maturity, investors will receive par of $1,000 times the number of calendar days during the Sept. 16, 2022 to Sept. 15, 2023 observation period that the 30-year U.S. dollar SOFR ICE Swap rate is greater than or equal to the two-year U.S. dollar SOFR ICE Swap rate divided by the number of calendar days in that observation period.
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: | Principal-at-risk securities
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| Underlying rates: | 30-year U.S. dollar SOFR ICE Swap rate and two-year U.S. dollar SOFR ICE Swap rate
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| Amount: | $210,000
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| Maturity: | Sept. 16, 2023
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| Coupon: | 21.91% per annum, payable monthly
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| Price: | Par
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| Payout at maturity: | Par of $1,000 times the proportion of calendar days during the Sept. 16, 2022 to Sept. 15, 2023 observation period that the 30-year rate is greater than or equal to the two-year rate
|
| Pricing date: | March 14
|
| Settlement date: | March 16
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17330AKB7
|
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