By William Gullotti
Buffalo, N.Y., May 4 – Citigroup Global Markets Holdings Inc. priced $2.55 million of equity-linked securities due Oct. 28, 2022 tied to the least performing of the shares of SPDR Dow Jones Industrial Average ETF Trust and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 5.7% per year, payable monthly.
If each ETF finishes at or above 80% of its initial level, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that ETF’s initial share price or the cash equivalent at the issuer’s discretion.
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: | Equity-linked securities
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| Underlying ETFs: | SPDR Dow Jones Industrial Average ETF Trust, SPDR S&P 500 ETF Trust
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| Amount: | $2.55 million
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| Maturity: | Oct. 28, 2022
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| Coupon: | 5.7% per year, payable monthly; 2.85% for term of securities
|
| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above barrier, par; otherwise, investors will receive shares of the worst performer equal to its equity ratio or the cash equivalent at the issuer’s discretion
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| Initial levels: | $340.56 for Dow, $428.51 for S&P
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| Barrier levels: | $272.448 for Dow, $342.808 for S&P; 80% of initial levels
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| Physical delivery: | 2.93634 for Dow, 2.33367 for S&P; share delivery per note
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
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| Cusip: | 17330DAT3
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