By Kiku Steinfeld
Chicago, May 12 – Citigroup Global Markets Holdings Inc. priced $2.05 million of callable contingent coupon equity-linked securities due April 28, 2022 linked to the shares of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.75% if the stock closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that period.
The notes are callable at par plus the contingent coupon on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 75% barrier level, in which case investors will receive 25.52323 shares or 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 stock: | Bank of America Corp.
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| Amount: | $2,053,000
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| Maturity: | April 28, 2022
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| Coupon: | 7.75% per year, payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case 25.52323 shares or cash equivalent
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| Call: | At par plus contingent coupon on any quarterly call valuation date
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| Initial share price: | $39.18
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| Coupon barrier price: | $29.385, 75% of initial share price
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| Barrier level: | $29.385, 75% of initial share price
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| Pricing date: | April 23
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| Settlement date: | April 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NPG7
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