By Wendy Van Sickle
Columbus, Ohio, March 4 – Citigroup Global Markets Holdings Inc. priced $4.81 million of callable dual range accrual notes due Feb. 26, 2035 linked to the 30-year U.S. dollar ICE swap rate, the two-year U.S. dollar ICE swap rate and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
For each quarterly interest period, interest will accrue at a rate of 4.5% per year for each day the difference between the 30-year rate and the two-year rate is greater than or equal to 0% and the closing level of the index is greater than or equal to 75% of the starting value.
The payout at maturity will be par of $1,000 plus any coupon due.
The notes will be callable at par on any interest payment date beginning Feb. 26, 2021.
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: | 30-year U.S. dollar ICE swap rate, two-year U.S. dollar ICE swap rate and S&P 500 index
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Amount: | $4,813,000
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Maturity: | Feb. 26, 2035
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Coupon: | 4.5% for each day the difference between the 30-year rate and the two-year rate is greater than or equal to 0% and the closing level of the index is greater than or equal to 75% of the starting value; 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 Feb. 26, 2021
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Initial index level: | 3,337.75
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Accrual barrier: | 2,503.313, 75% of initial level
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Pricing date: | Feb. 21
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Settlement date: | Feb. 26
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17327TG34
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