By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – Citigroup Global Markets Holdings Inc. priced $3.15 million of 7.5% single observation Equity LinKed Securities due Sept. 29, 2020 linked to Cigna Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be par in cash unless the stock finishes below the downside threshold level, 73% of the initial share price, in which case the payout will be a number of Cigna shares equal to $1,000 divided by the initial share price 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.
|
| Issue: | Single observation Equity LinKed Securities
|
| Underlying stock: | Cigna Corp.
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| Amount: | $3,149,000
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| Maturity: | Sept. 29, 2020
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| Coupon: | 7.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If stock finishes below downside threshold price, 6.33272 Cigna shares; otherwise, par in cash
|
| Initial level: | $157.91
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| Downside threshold: | $115.274, 73% of initial price
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XTJ9
|
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