By William Gullotti
Buffalo, N.Y., Feb. 3 – Citigroup Global Markets Holdings Inc. priced $2.46 million of callable buffer range accrual securities due Jan. 31, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities are guaranteed by Citigroup Inc.
The interest rate will be 8.2% per year multiplied by the proportion of days on which the index closes above the accrual barrier level, 80% of the initial index level. Interest will be payable monthly.
The securities will be callable at par on any monthly interest payment date after one year.
If the final index level is at least 80% 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 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable buffer range accrual securities
|
| Underlying index: | Russell 2000 index
|
| Amount: | $2,456,000
|
| Maturity: | Jan. 31, 2028
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| Coupon: | 8.2% 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 80% of initial level, par; otherwise, 1% loss for every 1% decline beyond 20%
|
| Call option: | At par on any monthly interest payment date after one year
|
| Initial index level: | 1,903.064
|
| Accrual barrier/buffer level: | 1,522.451; 80% of initial level
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17331CL62
|
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