By Wendy Van Sickle
Columbus, Ohio, May 3 – Citigroup Global Markets Holdings Inc. priced $12.2 million of trigger callable contingent yield notes due April 29, 2027 linked to the iShares MSCI EAFE ETF, the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, 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 10.03% if each fund closes at or above its coupon barrier, 70% of its initial value, on the relevant observation date.
The notes are redeemable in whole, at the issuer’s option, at par plus any coupon otherwise due on any quarterly observation date.
The payout at maturity will be par plus the final coupon if each ETF finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above the 65% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF from its initial value.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger callable contingent yield notes
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| Underlying ETFs: | iShares MSCI EAFE ETF, SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF
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| Amount: | $12.2 million
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| Maturity: | April 29, 2027
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| Coupon: | 10.03% per year, payable quarterly if each fund closes at or above coupon barrier on the corresponding observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus coupon if each ETF finishes at or above coupon barrier; if worst performer finishes below its coupon barrier but at or above its downside threshold, par; otherwise, 1% loss for each 1% decline of the worst performer from initial value
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| Call: | In whole at par plus any coupon otherwise due on any quarterly observation date
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| Initial values: | $68.17 for EAFE ETF, $187.74 for Russell ETF, $416.10 for S&P ETF
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| Coupon barriers: | $47.72 for EAFE ETF, $131.42 for Russell ETF, $291.27 for S&P ETF; 70% of initial value
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| Downside thresholds: | $44.31 for EAFE ETF, $122.03 for Russell ETF, $270.47 for S&P ETF; 65% of initial value
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| Pricing date: | April 26
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| Settlement date: | April 29
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| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 17330M411
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