By William Gullotti
Buffalo, N.Y., Aug. 23 – Citigroup Global Markets Holdings Inc. priced $328,000 of 6.25% callable equity-linked securities due Aug. 1, 2025 tied 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.
Interest is payable quarterly.
The notes will be callable at the option of the issuer on any quarterly review date after one year.
If the notes are not called and the final level of the index is at least 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% 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: | Callable equity-linked securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $328,000
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| Maturity: | Aug. 1, 2025
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| Coupon: | 6.25%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par if the index finishes above 60% of its initial value; otherwise, 1% loss for every 1% decline of the index from initial level
|
| Call option: | At par plus the coupon on any quarterly review date after one year
|
| Initial levels: | 4,023.61
|
| Downside thresholds: | 2,414.166; 60% of initial levels
|
| Strike date: | July 27
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17330PWU9
|
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