By William Gullotti
Buffalo, N.Y., Nov. 15 – Citigroup Global Markets Holdings Inc. priced $690,000 of 5.6% callable equity-linked securities due Feb. 8, 2023 tied to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be callable at the option of the issuer on any quarterly review date after six months.
If the notes have not been called, the payout at maturity will be par unless the index closes below its 70% downside threshold level during the life of the notes and the index finishes below its initial level, in which case investors will lose 1% for every 1% that the index finishes below its initial level.
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 equity-linked securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $690,000
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| Maturity: | Feb. 8, 2023
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| Coupon: | 5.6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the index closes below its 70% downside threshold level during the life of the notes and the index finishes below its initial level, in which case investors will lose 1% for every 1% that the index finishes below its initial level
|
| Call option: | At par plus the coupon on any quarterly review date after six months
|
| Initial levels: | 4,423.15
|
| Downside thresholds: | 3,096.205; 70% of initial levels
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 6
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17329QG46
|
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