By Wendy Van Sickle
Columbus, Ohio, July 28 – Citigroup Global Markets Holdings Inc. priced $1.44 million of callable contingent coupon equity-linked securities due July 30, 2024 linked to the worst performing of the Financial Select Sector SPDR fund, the Health Care Select Sector SPDR fund and the Energy 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 12.45% if each underlier closes at or above its coupon barrier level, 55% of its initial level, on the valuation date for that period.
After six months, the notes will be callable in whole at par plus any coupon due on any quarterly call valuation date.
If the notes have not been called and each underlier finishes at or above its 55% barrier level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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
|
| Underlying assets: | Energy Select Sector SPDR fund, Financial Select Sector SPDR fund, Health Care Select Sector SPDR fund
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| Amount: | $1,441,000
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| Maturity: | July 30, 2024
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| Contingent coupon: | 12.45% per year, payable quarterly if each underlier closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
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| Payout at maturity: | If all underliers finish at or above barrier level, par plus final coupon; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date after six months
|
| Initial levels: | $130.51 for Health Care, $73.76 for Energy, $32.96 for Financial
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| Coupon barrier levels: | $71.781 for Health Care, $40.568 for Energy, $18.128 for Financial; 55% of initial levels
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| Barrier levels: | $71.781 for Health Care, $40.568 for Energy, $18.128 for Financial; 55% of initial levels
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| Pricing date: | July 25
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| Settlement date: | July 28
|
| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
|
| Cusip: | 17330DGM2
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