By Kiku Steinfeld
Chicago, May 18 – Citigroup Global Markets Holdings Inc. priced $5.13 million of callable contingent coupon equity-linked securities due May 15, 2023 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each month, the notes will pay a contingent coupon at an annualized rate of 7% if the notes close at or above the coupon barrier, 70% of the initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any valuation date.
If each asset finishes at or above its final barrier level, 70% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
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 indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $5.13 million
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| Maturity: | May 15, 2023
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| Coupon: | 7%, payable monthly if each index closes above coupon barrier on related observation date
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| Price: | Par
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| Call option: | At par plus any coupon due on any valuation date
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| Payout at maturity: | If each asset finishes at or above final barrier, par plus coupon; otherwise, full exposure to losses of least-performing asset
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| Initial levels: | 1,329.638 for Russell, 2,929.80 for S&P
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| Coupon barrier/barriers: | 930.747 for Russell, 2,050.860 for S&P; 70% of initial levels
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| Pricing date: | May 8
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| Settlement date: | May 15
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17328VXL9
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