By Wendy Van Sickle
Columbus, Ohio, Feb. 25 – Citigroup Global Markets Holdings Inc. priced $445,000 of callable contingent coupon equity-linked securities due Feb. 14, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 5% if the index closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The notes are callable at par plus the contingent coupon on any quarterly call valuation date after one year.
If the notes are not called, the payout at maturity will be par unless the index finishes below the 60% barrier level, in which case investors will be fully exposed to the loss of the index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $445,000
|
| Maturity: | Feb. 14, 2031
|
| Coupon: | 5% per year, payable quarterly if index closes at or above coupon barrier on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless index finishes below barrier level, in which case full exposure to loss
|
| Call: | At par plus contingent coupon on any quarterly call valuation date after one year
|
| Initial level: | 3,909.88
|
| Coupon barrier level: | 2,741.466, 70% of initial level
|
| Barrier level: | 2,345.928, 60% of initial level
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 17
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17328YJQ8
|
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