By Kiku Steinfeld
Chicago, June 28 – Citigroup Global Markets Holdings Inc. priced $2.2 million of callable contingent coupon equity-linked securities due June 25, 2024 linked to the worst performing of the SPDR S&P Regional Banking ETF and the Financial 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 7.25% 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 after six months.
If the notes are not redeemed, the payout will be par unless any asset finishes below 70% of its initial level, in which case investors will lose 1% for every 1% that the least performing asset declines.
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: | SPDR S&P Regional Banking ETF, Financial Select Sector SPDR fund
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Amount: | $2.2 million
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Maturity: | June 25, 2024
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Contingent coupon: | 7.25% 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 if each asset finishes above 70% of its initial level; otherwise, full exposure to decline of least performer
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Call option: | In whole at par plus any coupon due on any quarterly valuation date after six months
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Initial levels: | $35.23 for Financial, $63.66 for Bank
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Coupon barriers: | $24.661 for Financial, $44.562 for Bank, 70% of initial levels
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Final barriers: | $24.661 for Financial, $44.562 for Bank, 70% of initial levels
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Pricing date: | June 18
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Settlement date: | June 25
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17329FWH3
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