New York, May 26 – Citigroup Global Markets Holdings Inc. priced $2.75 million of callable contingent coupon equity linked securities due Jan. 24, 2024 linked to the common stock of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.3% per year, or 10.867% for the term, if the stock closes at or above its 65% coupon barrier on the related quarterly valuation date.
The securities may be called at par on any quarterly determination date.
The payout at maturity will be par if the stock ends at or above its 65% final barrier. Otherwise, investors will receive a number of shares per security equal to $1,000 divided by the stock’s initial ratio or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| 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 stock: | Occidental Petroleum Corp.
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| Amount: | $2.75 million
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| Maturity: | Jan. 24, 2024
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| Coupon: | 16.3% per year, or 10.867% for the term, payable quarterly if the stock closes at or above its 65% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above final barrier, par; otherwise, receive 16.91189 shares per security or, at the issuer’s option, the cash equivalent
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| Call option: | At par on any quarterly determination date
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| Initial level: | $59.13
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| Coupon barrier: | $38.435, 65% of initial level
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| Final barrier: | $38.435, 65% of initial level
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| Pricing date: | May 19
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| Settlement date: | May 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17331AHU8
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