By Wendy Van Sickle
Columbus, Ohio, Jan. 29 – Citigroup Global Markets Holdings Inc. priced $6.15 million of callable fixed-to-float CMS spread range accrual securities due Jan. 29, 2035 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The interest rate is 6.4% for the first year. After that, it will accrue at 15 times the spread of the 30-year Constant Maturity Swap rate minus the two-year CMS rate for each day each index closes at or above the accrual barrier, 70% of the initial index level, subject to a maximum of 6.4% and a floor of zero. Interest will be payable quarterly.
After one year, the notes will be callable at par on any interest payment date.
The payout at maturity will be par plus any coupon due.
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 fixed-to-float CMS spread range accrual securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $6.15 million
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| Maturity: | Jan. 29, 2035
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| Coupon: | 6.4% for the first year; after that, 15 times the spread of the 30-year CMS rate minus the two-year CMS rate for each day each index closes at or above the accrual barrier, subject to a maximum of 6.4% and a floor of zero; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due
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| Call option: | At par on any interest payment date after a year
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| Initial levels: | 1,662.232 for Russell 2000, 3,295.47 for S&P 500
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| Accrual barrier levels: | 1,163.562 for Russell 2000, 2,306.829 for S&P 500, or 70% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17327TJ23
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