By William Gullotti
Buffalo, N.Y., April 8 – Citigroup Global Markets Holdings Inc. priced $2.28 million of callable buffer range accrual notes due March 29, 2029 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 7.2% 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 monthly interest payment date after one year.
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 index
|
| Amount: | $2,283,000
|
| Maturity: | March 29, 2029
|
| Coupon: | 7.2% 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 85% of initial level, par; otherwise, 1% loss for every 1% decline beyond 15% buffer
|
| Call option: | At par on any monthly interest payment date after one year
|
| Initial index level: | 2,074.163
|
| Accrual barrier/buffer level: | 1,763.039; 85% of initial level
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17291LNW1
|
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