New Issue: Citi prices $1.18 million callable contingent coupon notes on indexes

By Kiku Steinfeld

Chicago, Dec. 30 – Citigroup Global Markets Holdings Inc. priced $1.18 million of callable contingent coupon equity-linked securities due Dec. 15, 2023 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

Each quarter, the notes pay a contingent coupon at an annual rate of 8.55% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

The notes are callable at par plus any coupon on any quarterly call date beginning in June 2020 and ending in September 2023.

The payout at maturity will be par plus any coupon unless any index finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable contingent coupon equity-linked securities
Underlying indexes:	Dow Jones industrial average, Russell 2000 and Nasdaq-100
Amount:	$1,180,000
Maturity:	Dec. 15, 2023
Coupon: 8.55%, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
Price:	Par
Payout at maturity:	Par plus any coupon unless any index finishes below its final barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
Call option:	At par plus any coupon on any quarterly date beginning in June 2020 and ending in September 2023
Initial levels:	28,132.05 for Dow, 1,644.813 for Russell 2000 and 8,466.895 for Nasdaq-100
Coupon barrier levels:	19,692.435 for Dow, 1,151.369 for Russell 2000 and 5,926.827 for Nasdaq-100; 70% of initial levels
Barrier levels:	16,879.230 for Dow, 986.888 for Russell 2000 and 5,080.137 for Nasdaq-100; 60% of initial levels
Pricing date:	Dec. 12
Settlement date:	Dec. 17
Underwriter:	Citigroup Global Markets Inc.
Fees:	0.65%
Cusip:	17327TH58

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