By Wendy Van Sickle
Columbus, Ohio, Dec. 31 – Citigroup Global Markets Holdings Inc. priced $358,000 of callable contingent coupon equity-linked securities due Dec. 24, 2029 linked to the least performing of the Russell 2000 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 10% if each index closes at or above its coupon barrier level, 66.5% of its initial level, on the observation date for that quarter.
The notes are callable at par plus any coupon on any quarterly call date beginning in March 2020.
The payout at maturity will be par plus any coupon unless either index finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 and Euro Stoxx Banks
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| Amount: | $358,000
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| Maturity: | Dec. 24, 2029
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| Coupon: | 10%, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon unless either index finishes below its final barrier level, in which case 1% loss for each 1% decline of least-performing index from initial level
|
| Call option: | At par plus any coupon on any quarterly date beginning in March 2020
|
| Initial levels: | 1,667.095 for Russell 2000 and 98.54 for Euro Stoxx Banks
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| Coupon barrier levels: | 1,108.618 for Russell 2000 and 65.529 for Euro Stoxx Banks; 66.5% of initial levels
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| Barrier levels: | 1,000.256 for Russell 2000 and 59.124 for Euro Stoxx Banks; 60% of initial levels
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 5%
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| Cusip: | 17327TQ66
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