By Taylor Fox
New York, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $5 million of trigger callable contingent yield notes due Jan. 23, 2026 linked to the least performing of the iShares MSCI Emerging Markets ETF, 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, 67.25% of its initial value, on each trading day 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. is the underwriter, and UBS Financial Services Inc. is the selling agent.
| 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 the SPDR S&P 500 ETF
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| Amount: | $5 million
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| Maturity: | Jan. 23, 2026
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| Coupon: | 8% per year, payable each quarter that each ETF closes at or above its coupon barrier on each trading 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: | $55.13 for MSCI, $213.94 for Russell, $378.46 for S&P
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| Coupon barriers: | $37.07 for MSCI, $143.87 for Russell, $254.51 for S&P; 67.25% of initial values
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| Downside thresholds: | $27.57 for MSCI, $106.97 for Russell, $189.23 for S&P; 50% of initial values
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| Strike date: | Jan. 14
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 22
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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: | 17329B533
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