By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Citigroup Global Markets Holdings Inc. priced $2.76 million of callable contingent coupon equity-linked securities due Dec. 21, 2023 linked to the worst performing of 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 semiannual coupon at an annualized rate of 7.25% if each fund closes at or above its coupon barrier level, 65% 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 semiannual valuation date.
If the notes are not redeemed, the payout will be par plus any final coupon unless any fund finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the least performing fund.
Citigroup Global Markets Inc.is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying funds: | Technology Select Sector SPDR fund and SPDR S&P Biotech ETF
|
| Amount: | $2,759,000
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| Maturity: | Dec. 21, 2023
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| Contingent coupon: | 7.25% per year, payable semiannually if each fund closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any fund finishes below final barrier level, in which case investors will be fully exposed to the loss of the least performing fund
|
| Call option: | In whole at par plus any coupon due on any semiannual valuation date
|
| Initial levels: | $147.55 for Biotech, $128.25 for Technology
|
| Coupon barriers: | $95.908 for Biotech, $83.363 for Technology; 65% of initial levels
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| Final barriers: | $95.908 for Biotech, $83.363 for Technology; 65% of initial levels
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17328Y5H3
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