By William Gullotti
Buffalo, N.Y., March 1 – Citigroup Global Markets Holdings Inc. priced $3.45 million of autocallable contingent coupon equity-linked securities due Feb. 28, 2023 linked to the performance of 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 10.3% if the index closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above the initial level on any quarterly valuation date.
If the notes are not called and the index finishes at or above the coupon barrier, the payout at maturity will be par plus the final coupon.
If the index finishes below the coupon barrier but not below the 80% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying index: | S&P 500 index
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| Amount: | $3.45 million
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| Maturity: | Feb. 28, 2023
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| Coupon: | 10.3% annually, payable quarterly if index closes at or above coupon barrier on the corresponding valuation date
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and the index finishes at or above the coupon barrier, par plus final coupon; if the index finishes below coupon barrier but at or above final barrier, par; otherwise, full exposure to decline in the index from initial level
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any quarterly valuation date
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| Initial level: | 4,225.5
|
| Coupon barrier: | 3,380.4; 80% of initial level
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| Final barrier: | 3,380.4; 80% of initial level
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17330AT44
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