New York, May 15 – Citigroup Global Markets Holdings Inc. priced $12.5 million of callable dual range accrual securities due May 15, 2037 linked to six-month Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will accrue for each day that six-month Libor is 5% or less and greater than or equal to zero and the Russell 2000 closes at or above the accrual barrier level of 75% of its initial level.
The rate of accrual will initially be 6.5%, stepping up to 7.5% on May 15, 2027 and 8.5% on May 15, 2032.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Callable dual range accrual securities
|
| Underlyings: | Six-month Libor, Russell 2000 index
|
| Amount: | $12.5 million
|
| Maturity: | May 15, 2037
|
| Coupon: | Accrues for each day that six-month Libor is 5% or less and zero or greater and Russell closes at or above accrual barrier level; payable quarterly; rate of accrual will initially be 6.5%, stepping up to 7.5% on May 15, 2027 and 8.5% on May 15, 2032
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning May 15, 2018
|
| Accrual barrier level: | 1,049.692, 75% of initial level
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17324CJG2
|
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