By Kiku Steinfeld
Chicago, Aug. 7 – Citigroup Global Markets Holdings Inc. priced $190,000 of callable contingent coupon equity linked securities due July 31, 2029 linked to the Euro Stoxx Banks index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.25% if each index closes at or above its coupon barrier, 60% of its initial level, on the valuation date for that quarter.
The notes will be callable quarterly at par, beginning in October and ending in April 2029.
If the notes are not called and the final level of each index is greater than or equal to its 60% final barrier level, the payout at maturity will be par plus the contingent coupon, if any. Otherwise, investors will be fully exposed to the decline of the worse performing index.
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 indexes: | Euro Stoxx Banks index and Russell 2000 index
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Amount: | $190,000
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Maturity: | July 31, 2029
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Coupon: | 8.25% per year, payable quarterly if both indexes close at or above barrier level on valuation date for that quarter
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Price: | Par
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Payout at maturity: | If final level of each index is greater than or equal to barrier level, par plus final coupon; otherwise, full exposure to decline of lesser performing index
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Call option: | Quarterly at par, beginning in October and ending in April 2029
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Initial levels: | 89.56 for Stoxx, 1,578.967 for Russell
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Barrier levels: | 53.736 for Stoxx, 947.380 for Russell, 60% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4%
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Cusip: | 17327TRH1
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