New Issue: Citi prices $31 million trigger callable contingent yield notes on three indexes

By Wendy Van Sickle

Columbus, Ohio, July 26 – Citigroup Global Markets Holdings Inc. priced $31 million of trigger callable contingent yield notes with daily coupon observation due April 19, 2024 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each index closes at or above its coupon barrier level, 70% of its initial level, on each trading day during that quarter.

The notes will be callable at par of $10 plus any coupon due on any quarterly observation date other than the final one.

If the notes are not called and each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par plus any coupon due. Otherwise, investors will lose 1% for every 1% decline of the least-performing index.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter, and UBS Financial Services Inc. is the selling agent.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Trigger callable contingent yield notes with daily coupon observation
Underlying indexes:	Nasdaq-100 index, Russell 2000 index, S&P 500 index
Amount:	$31 million
Maturity:	April 19, 2024
Coupon:	9% per year, payable quarterly if each index closes at or above its coupon barrier level on each trading day during that quarter
Price:	Par of $10
Payout at maturity:	Par plus any coupon unless any index finishes below downside threshold level, in which case 1% loss for every 1% decline of worst performing index
Call option:	At par plus any coupon on any quarterly observation date other than final one
Initial levels:	2,163.238 for Russell, 4,323.06 for S&P, 14,681.38 for Nasdaq
Coupon barrier levels:	1,514.267 for Russell, 3,029.01 for S&P, 10,276.97 for Nasdaq; 70% of initial levels
Downside threshold levels:	1,406.105 for Russell, 2,812.65 for S&P, 9,542.9 for Nasdaq; 65% of initial levels
Pricing date:	July 16
Settlement date:	July 21
Underwriter:	Citigroup Global Markets Inc.
Agents:	UBS Financial Services Inc.
Fees:	1%
Cusip:	17329L150

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.