By Kiku Steinfeld
Chicago, April 12 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon notes due March 29, 2023 linked to the Russell 2000 index, 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 4% if the index closes at or above its coupon barrier level, 70% of the initial value, on the related observation date.
The notes will be callable at par plus any coupon due on any observation date after six months.
If the index finishes at or above its 60% barrier level, the payout at maturity will be par plus any contingent coupon due. Otherwise, investors will be fully exposed to the decline of the index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $1 million
|
| Maturity: | March 29, 2023
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| Contingent coupon: | 4% per year, payable each quarter that underlying index closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above barrier value, par plus any coupon due; otherwise, full exposure to decline of index
|
| Call option: | At par plus any coupon on any observation date after six months
|
| Initial values: | 2,134.266
|
| Coupon barrier: | 1,493.986, 70% of initial level
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| Barrier value | : | 1,280.560, 60% of initial level
|
| Pricing date: | March 24
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| Settlement date: | March 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.6%
|
| Cusip: | 17329F4U5
|
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