By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – Citigroup Global Markets Holdings Inc. priced $2.3 million of callable contingent coupon equity-linked securities due Dec. 23, 2024 linked to the least performing of the S&P 500 index, the iShares Russell 2000 exchange-traded fund and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes have a quarterly coupon of 8.15%, paid quarterly, if the least-performing asset for that quarter finishes at or above its coupon barrier value, 75% of its initial value.
The notes may be called at par plus any contingent coupon due by the issuer on any quarterly valuation date.
If each asset finishes at or above its buffer value, 70% of its initial value, payout will be par plus the final coupon.
Otherwise, investors will lose 1.428571% for each 1% decline of the least-performing asset beyond 30%.
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: | S&P 500 index, iShares MSCI Emerging Markets ETF and iShares Russell 2000 ETF
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Amount: | $2.3 million
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Maturity: | Dec. 23, 2024
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Coupon: | 8.15%, paid quarterly if each asset finishes at or above its coupon barrier value
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Price: | Par
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Payout at maturity: | If each asset finishes at or above final barrier value, par plus the final coupon; otherwise, 1.428571% loss for each 1% decline of the least-performing asset beyond 30%
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Call: | At par plus any coupon due on any quarterly valuation date
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Initial values: | 3,701.17 for S&P, $50.72 for Emerging and $130.89 for Russell
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Coupon barriers: | 2,775.878 for S&P, $38.04 for Emerging and $98.168 for Russell, 75% of initial values
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Buffer values: | 2,590.819 for S&P, $35.504 for Emerging and $91.623 for Russell, 70% of initial values
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Pricing date: | Dec.18
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Settlement date: | Dec. 23
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.45%
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Cusip: | 17328Y6R0
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