By Wendy Van Sickle
Columbus, Ohio, Sept. 18 – Citigroup Global Markets Holdings Inc. priced $16.96 million of trigger autocallable contingent yield notes due Sept. 20, 2023 linked to the Invesco S&P 500 Equal Weight ETF and Invesco QQQ Trust, series 1, 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 annual rate of 8.12% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if both ETFs close above their initial levels on any quarterly observation date starting after six months.
The payout at maturity will be par plus the coupon, if any, unless either underlier finishes below the 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
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 autocallable contingent yield notes
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| Underliers: | Invesco S&P 500 Equal Weight ETF and Invesco QQQ Trust, series 1
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| Amount: | $16,963,000
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| Maturity: | Sept. 20, 2023
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| Coupon: | 8.12%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par of $10
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| Call: | At par plus the coupon if both ETFs close above their initial levels on any quarterly observation date starting after six months
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| Payout at maturity: | Par plus any coupon if each ETF finishes above 60% of initial level; otherwise, 1% loss for each 1% decline of the worse performing underlier from initial level
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| Initial levels: | $110.89 for Invesco S&P, $279.06 for QQQ
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| Coupon barriers: | $77.62 for Invesco S&P, $195.34 for QQQ, 70% of initial levels
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| Downside thresholds: | $66.53 for Invesco S&P, $167.44 for QQQ, 60% of initial levels
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 18
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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: | 17327Y493
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