Chicago, March 28 – Citigroup Global Markets Holdings Inc. priced $2.09 million callable contingent coupon equity-linked securities due May 2, 2023 tied to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly contingent coupon at an annualized rate of 9% if the ETF closes above 70% of its initial level on a relevant valuation date.
The notes will be callable at par plus the coupon on any quarterly valuation date other than the final one.
If the notes are not called, the payout at maturity will be par unless the ETF finishes below its 70% final barrier value, in which case investors will be exposed to all losses, payable in 20.6441 shares of the ETF or cash at the issuer’s option.
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: | Callable contingent coupon equity-linked securities
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| Underlying ETF: | Energy Select Sector SPDR fund
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| Amount: | $2,088,000
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| Maturity: | May 2, 2023
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| Coupon: | 9% annual rate, payable quarterly if ETF finishes above coupon barrier on relevant valuation date
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| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below final barrier value, in which case full exposure to losses, payable in shares or cash at the issuer’s option
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| Call option: | At par plus coupon on any quarterly valuation date other than final one
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| Initial level: | $48.44
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| Coupon barrier: | $33.908, 70% of initial level
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| Final barrier: | $33.908, 70% of initial level
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17328NPP7
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