By Taylor Fox
New York, Dec. 21 – Citigroup Global Markets Holdings Inc. priced $5.3 million of 5.5% trigger callable yield notes due March 18, 2022 linked to the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes are callable at par of $10 on any monthly coupon payment date after three months.
The payout at maturity will be par unless the lowest performing ETF finishes below its 60% downside threshold level, in which case investors will be fully exposed to the ETF’s decline.
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 yield notes
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Underlying ETFs: | iShares Russell 2000 ETF and SPDR S&P 500 ETF trust
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Amount: | $5.3 million
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Maturity: | March 18, 2022
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Coupon: | 5.5%, payable monthly
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Price: | Par of $10
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Call option: | At par on any monthly call date after three months
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Payout at maturity: | If the lowest performing ETF finishes at or above downside threshold level, par; otherwise, full exposure to losses of ETF
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Initial levels: | $190.30 for Russell and $366.30 for S&P
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Downside threshold levels: | $114.18 for Russell and $219.78 for S&P; 60% of initial levels
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Pricing date: | Dec. 15
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Settlement date: | Dec. 18
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 1%
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Cusip: | 17328L219
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