By Taylor Fox
New York, Feb. 18 – Citigroup Global Markets Holdings Inc. priced $21.8 million of trigger callable contingent yield notes due Feb. 2, 2026 linked to the least performing of the iShares MSCI Emerging Markets exchange-traded fund, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at a rate of 8% per year if each ETF closes at or above its coupon barrier, 55% of its initial value, every day during that quarter.
The notes are callable at par of $10 plus any coupon due on any quarterly coupon payment date.
If the notes are not called and each ETF finishes at or above its downside threshold, 50% of its initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing ETF’s final value is below 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 Emerging Markets ETF, iShares Russell 2000 ETF and SPDR S&P 500 ETF
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Amount: | $21.8 million
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Maturity: | Feb. 2, 2026
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Coupon: | 8% per year, payable each quarter that each ETF closes at or above its coupon barrier every day that quarter
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Price: | Par of $10
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Payout at maturity: | If each ETF finishes at or above downside threshold, par; otherwise, full exposure to decline of least-performing ETF below its initial value
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Call option: | At par plus any coupon due on any quarterly coupon payment date
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Initial values: | $54.29 for EM, $209.39 for Russell, $374.41 for S&P
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Coupon barrier levels: | $29.86 for EM, $115.17 for Russell, $205.93 for S&P; 55% of initial values
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Downside threshold levels: | $27.15 for EM, $104.7 for Russell, $187.21 for S&P; 50% of initial values
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Strike date: | Jan. 27
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Pricing date: | Jan. 28
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Settlement date: | Feb. 2
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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: | 17329B376
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