By Kiku Steinfeld
Chicago, Nov. 9 – Citigroup Global Markets Holdings Inc. priced $954,000 of callable buffer range accrual notes due July 30, 2026 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 interest rate will be 3.65% per year multiplied by the proportion of days on which the index closes above the accrual barrier level, 85% of the initial index level. Interest will be payable monthly.
The notes will be callable at par on any interest payment date.
If the final index level is at least 85% of the initial index level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable buffer range accrual notes
|
| Underlying index: | Russell 2000
|
| Amount: | $954,000
|
| Maturity: | July 30, 2026
|
| Coupon: | 3.65% per year times the proportion of days on which the index closes above the accrual barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 85% of initial level, par; otherwise, 1% loss for every 1% decline beyond 15% buffer
|
| Call option: | At par on any interest payment date
|
| Initial index level: | 2,191.833
|
| Accrual barrier/buffer level: | 1,863.058, 85% of initial level
|
| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17329Q5J5
|
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