Citigroup plans callable contingent coupon notes on Russell, S&P

By Sarah Lizee

Olympia, Wash., Feb. 11 – Citigroup Global Markets Holdings Inc. plans to price callable contingent coupon notes due Feb. 27, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes pay a contingent quarterly coupon at an annualized rate of 6.2% if each underlying asset closes at or above its coupon barrier level, 55% of its initial price, on the observation date for that period.

The notes will be callable in whole at par on any quarterly redemption date after six months.

If each asset finishes at or above its barrier level, 55% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.

Citigroup Global Markets Inc. is the agent.

The notes will price on Feb. 15.

The Cusip number is 17326YUY0.

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