By Wendy Van Sickle
Columbus, Ohio, June 24 – Citigroup Global Markets Holdings Inc. priced $4.3 million of callable dual range accrual notes due June 27, 2036 linked to six-month Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The interest rate will be the relevant contingent rate multiplied by the proportion of days on which six-month Libor is 6% or less and the index closes at or above the index accrual barrier level, 75% of its initial level. The contingent rate will be 6% per year in years one through eight, 7% per year in years nine through 14 and 8% per year in years 15 through 20. Interest will be payable quarterly.
The payout at maturity will be par plus any coupon due.
Beginning June 27, 2020, the notes will be callable at par on any interest payment date.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Issue: | Citigroup Inc.
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Issue: | Callable dual range accrual notes
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Underlyings: | Six-month Libor and Russell 2000 index
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Amount: | $4.3 million
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Maturity: | June 27, 2036
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Coupon: | Contingent rate multiplied by proportion of days on which Libor is 6% or less and index closes at or above index accrual barrier; contingent rate is 6% in years one through eight, 7% in years nine through 14 and 8% in years 15 through 20; payable quarterly
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Price: | Par of $1,000
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Payout at maturity: | Par plus any coupon due
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Call option: | At par on any interest payment date beginning June 27, 2020
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Initial index level: | 1,148.97
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Index accrual barrier: | 861.728, 75% of initial level
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Pricing date: | June 22
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Settlement date: | June 27
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17324C6F8
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