By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – Citigroup Global Markets Holdings Inc. priced $1.75 million of callable dual range accrual notes due Dec. 9, 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 seven, 7% per year in years eight 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 Dec. 9, 2017, 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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| Guarantor: | 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: | $1.75 million
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| Maturity: | Dec. 9, 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 seven, 7% per year in years eight through 14 and 8% per year 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 Dec. 9, 2017
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| Initial index level: | 1,352.668
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| Index accrual barrier: | 1,014.501, 75% of initial level
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17324CD52
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