By Wendy Van Sickle
Columbus, Ohio, Nov. 10 – Citigroup Global Markets Holdings Inc. priced $885,000 of callable contingent coupon equity-linked securities due Nov. 2, 2022 linked to the worst performing of the Financial Select Sector SPDR fund and the Utilities Select Sector SPDR fund, 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 9.5% if each asset 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 valuation date.
If the notes are not redeemed, the payout will be par plus any final coupon unless any fund finishes below 70% of its initial level, in which case investors will be fully exposed to the loss of the least performing fund.
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: | Callable contingent coupon equity-linked securities
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Underlying assets: | Financial Select Sector SPDR fund and Utilities Select Sector SPDR fund
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Amount: | $885,000
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Maturity: | Nov. 2, 2022
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Contingent coupon: | 9.5% per year, payable quarterly if each asset closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon unless any fund finishes below 70% of its initial level, in which case investors will be fully exposed to the loss of the least performing fund
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Call option: | In whole at par plus any coupon due on any quarterly valuation date
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Initial levels: | $23.61 for Financial, $62.80 for Utilities
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Coupon barriers: | $16.537 for Financial, $43.96 for Utilities; 70% of initial levels
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Final barriers: | $16.537 for Financial, $43.96 for Utilities; 70% of initial levels
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17328WPQ5
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