By Marisa Wong
Morgantown, W.Va., March 5 – Citigroup Global Markets Holdings Inc. priced $4 million of notes due March 1, 2022 linked to gold, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at a rate of 3% per year if the commodity price is at or above the initial price on the valuation date for that quarter.
If the final commodity price is greater than the initial price, the payout at maturity will be 94.4% of par plus the gain, capped at $1,194 per $1,000 note.
If the commodity price finishes flat or falls, the payout will be $944 per $1,000 note.
The final commodity price must be greater than the initial price by at least 5.6% in order for investors to receive at least par.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Notes
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| Underlying commodity: | Gold
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| Amount: | $4 million
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| Maturity: | March 1, 2022
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| Coupon: | 3% per year, payable each quarter that the commodity price is at or above the initial price on the valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If the final commodity price is greater than the initial price, 94.4% of par plus the gain, capped at $1,194 per $1,000 note; if the commodity price finishes flat or falls, $944 per $1,000 note
|
| Initial price: | $1,331.05
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17326YFG6
|
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