By Kiku Steinfeld
Chicago, April 29 – Citigroup Global Markets Holdings Inc. priced $708,000 of callable contingent coupon equity-linked securities due April 12, 2023 linked to the SPDR S&P Regional Banking ETF, 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 9.55% if the ETF closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that period.
The notes are callable at par plus any contingent coupon on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless the ETF finishes below the 75% barrier level, in which case investors will receive a fixed number of shares equal to the $1,000 principal amount divided by the initial share price, if the issuer elects, the cash equivalent of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying ETF: | SPDR S&P Regional Banking ETF
|
| Amount: | $708,000
|
| Maturity: | April 12, 2023
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| Coupon: | 9.55% per year, payable quarterly if ETF closes at or above coupon barrier on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below barrier level, in which case a fixed number of shares equal to $1,000 principal amount divided by initial share price or cash
|
| Call: | At par plus any contingent coupon on any quarterly call valuation date
|
| Initial level: | $66.87
|
| Coupon barrier level: | $50.153, 75% of initial level
|
| Barrier level: | $50.153, 75% of initial level
|
| Equity ratio: | 14.95439
|
| Pricing date: | April 6
|
| Settlement date: | April 9
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328NQA9
|
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