By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – Citigroup Global Markets Holdings Inc. priced $300,000 of callable contingent coupon equity-linked securities due Nov. 27, 2024 linked to the worst performing of the SPDR S&P Regional Banking ETF, the Technology Select Sector SPDR fund and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 7.5% if each asset closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date after one year.
If the notes are not redeemed, the payout will be par plus any final coupon unless any asset finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset.
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 Regional Banking ETF, Technology Select Sector SPDR fund and SPDR S&P Biotech ETF
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| Amount: | $300,000
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| Maturity: | Nov. 27, 2024
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| Contingent coupon: | 7.5% per year, payable monthly if each asset closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any asset finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset
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| Call option: | In whole at par plus any coupon due on any quarterly valuation date after one year
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| Initial levels: | $126.82 for Biotech, $50.15 for Banking, $122.01 for Technology
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| Coupon barriers: | $76.092 for Biotech, $30.09 for Banking, $73.206 for Technology; 60% of initial levels
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| Final barriers: | $76.092 for Biotech, $30.09 for Banking, $73.206 for Technology; 60% of initial levels
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17328Y5L4
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