By Wendy Van Sickle
Columbus, Ohio, June 1 – Citigroup Global Markets Holdings Inc. priced $2.12 million of callable contingent coupon equity-linked securities due May 30, 2025 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 pay a contingent monthly coupon at an annualized rate of 5.3% if the index closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly potential redemption date after six months.
If the notes are not redeemed early, the payout will be par unless the index closes below its 60% barrier level, in which case investors will lose 1% for every 1% that the index declines.
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: | $2,122,000
|
| Maturity: | May 30, 2025
|
| Contingent coupon: | 5.3% per year, payable monthly if the index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless the index finishes below final barrier level, in which case investors will lose 1% for every 1% that the index declines
|
| Call option: | Par plus any coupon due on any monthly potential redemption date after six months
|
| Initial levels: | 3,941.48
|
| Coupon barrier level: | 2,364.888; 60% of initial level
|
| Barrier level: | 2,364.888; 60% of initial level
|
| Pricing date: | May 24
|
| Settlement date: | May 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.95%
|
| Cusip: | 17330FZT1
|
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