By Tali Rackner
Norfolk, Va., April 27 – Citigroup Global Markets Holdings Inc. priced $7.5 million of callable dual range accrual notes due April 28, 2031 linked to three-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will accrue for each day that Libor is 0% to 5% and the index closes at or above the 75% barrier level. Interest will be payable quarterly. The annualized interest rate will be 5% until April 28, 2021, stepping up to 6% until April 28, 2026, then to 7% until the maturity date.
The payout at maturity will be par plus any coupon due.
The notes will be callable at par on any interest payment date beginning April 28, 2017.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Issue: | Callable dual range accrual notes
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| Underlyings: | Three-month Libor and S&P 500 index
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| Amount: | $7.5 million
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| Maturity: | April 28, 2031
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| Coupon: | Accrues each day that Libor is 5% or less and index closes at or above accrual barrier level: 5% until April 28, 2021, stepping up to 6% until April 28, 2026 and to 7% until maturity; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any interest payment date beginning April 28, 2017
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| Initial rate: | 2,087.79
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| Accrual barrier level: | 1,565.843, 75% of initial index level
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17324C2U9
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