By William Gullotti
Buffalo, N.Y., June 23 – Citigroup Global Markets Holdings Inc. priced $1.13 million of variable coupon market-linked notes due June 20, 2025 tied to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a variable annual coupon of 5% if the index closes at or above its initial level on the corresponding date. If the index closes below its initial level on the observation date, investors will instead receive a 1% coupon.
The payout at maturity will be par plus the relevant coupon.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Issue: | Variable coupon market-linked notes
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Guarantor: | Citigroup Inc.
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Underlying index: | S&P 500 index
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Amount: | $1,129,000
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Maturity: | June 20, 2025
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Coupon: | 5% payable annually if the index closes at or above initial level on relevant review date; if the index closes below its initial level on the review date, the coupon will be 1%
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Price: | Par
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Payout at maturity: | Par plus the relevant coupon
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Initial level: | 3,666.77
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Pricing date: | June 16
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Settlement date: | June 22
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17330PBP3
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