By Wendy Van Sickle
Columbus, Ohio, April 7 – Citigroup Global Markets Holdings Inc. priced $1.06 million of callable contingent coupon equity-linked securities due March 28, 2023 linked to the worst performing of the Consumer Discretionary Select Sector SPDR fund, the Industrial Select Sector SPDR fund and the Materials Select Sector SPDR fund, 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 10.5% if each asset closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date.
If the notes are not redeemed early, the payout will be par plus the final coupon unless any asset finishes below 75% of its initial level, in which case investors will lose 1% for every 1% that the least performing asset 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 assets: | Consumer Discretionary Select Sector SPDR fund, Industrial Select Sector SPDR fund and Materials Select Sector SPDR fund
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| Amount: | $1,063,000
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| Maturity: | March 28, 2023
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| Contingent coupon: | 10.5% per year, payable quarterly if each asset closes at or above coupon barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless any asset finishes below 75% of its initial level, in which case investors will lose 1% for every 1% that the least performing asset declines
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date
|
| Initial levels: | $165.71 for Consumer, $94.44 for Industrial, $76.10 for Materials
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| Coupon barriers: | $124.283 for Consumer, $70.83 for Industrial, $57.075 for Materials; 75% of initial levels
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| Barrier levels: | $124.283 for Consumer, $70.83 for Industrial, $57.075 for Materials; 75% of initial levels
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| Pricing date: | March 23
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| Settlement date: | March 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
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| Cusip: | 17328NMS4
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