By Kiku Steinfeld
Chicago, May 24 – Citigroup Global Markets Holdings Inc. priced $1.05 million of callable contingent coupon equity-linked securities due May 5, 2022 linked to the least performing of the SPDR S&P Metals & Mining ETF and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 17.1% if each underlying asset closes at or above its coupon barrier level, 80% of its initial level, on the related quarterly observation date.
The notes will be callable in whole at par quarterly.
If each asset finishes at or above its 80% barrier level, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the least performer equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
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 assets: | SPDR S&P Metals & Mining ETF and Technology Select Sector SPDR fund
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| Amount: | $1.05 million
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| Maturity: | May 5, 2022
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| Contingent coupon: | 17.1% per year, payable each quarter that each underlying asset closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above final barrier, par; otherwise, a number of shares of the least performer equal to $1,000 divided by the initial share price or the cash equivalent
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| Call option: | At par quarterly
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| Initial levels: | $40.46 for Metals, $139.70 for Technology
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| Coupon barriers: | $32.368 for Metals, $111.760 for Technology; 80% of initial levels
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| Final barriers: | $32.368 for Metals, $111.760 for Technology; 80% of initial levels
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| Equity ratios: | 24.71577 for Metals, 7.15820 for Technology
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| Pricing date: | April 30
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| Settlement date: | May 5
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NNF1
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