New Issue: Citi sells $3.96 million callable contingent coupon equity notes on S&P, Nasdaq, Dow

By William Gullotti

Buffalo, N.Y., Oct. 4 – Citigroup Global Markets Holdings Inc. priced $3.96 million of callable contingent coupon equity-linked securities due Oct. 2, 2025 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, 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 8.15% if each index 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 monthly call valuation date after one year.

If the notes are not redeemed early, the payout will be par plus the final coupon if each index finishes at or above its coupon barrier.

If the worst performer finishes below its coupon barrier but at or above 50% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable contingent coupon equity-linked securities
Underlying indexes:	Nasdaq-100 index, Dow Jones industrial average, S&P 500 index
Amount:	$3,963,000
Maturity:	Oct. 2, 2025
Contingent coupon:	8.15% per year, payable monthly if each index closes at or above coupon barrier on the valuation date for that period
Price:	Par
Payout at maturity:	If all indexes finish at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
Call option:	In whole at par plus any coupon due on any monthly call valuation date after one year
Initial levels:	29,683.74 for Dow, 3,719.04 for S&P, 11,493.83 for Nasdaq
Coupon barrier levels:	17,810.244 for Dow, 2,231.424 for S&P, 6,896.298 for Nasdaq; 60% of initial levels
Barrier levels:	14,841.87 for Dow, 1,859.52 for S&P, 5,746.915 for Nasdaq; 50% of initial levels
Pricing date:	Sept. 28
Settlement date:	Oct. 3
Underwriter:	Citigroup Global Markets Inc.
Fees:	0.95%
Cusip:	17330RSG1

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