By Wendy Van Sickle
Columbus, Ohio, Oct. 25 – Citigroup Global Markets Holdings Inc. priced $27 million of trigger callable contingent yield notes due Oct. 9, 2025 linked to the worst performing of the iShares MSCI EAFE ETF, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust, 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 8% if each ETF closes at or above its coupon barrier level, 70% of its initial level, on the observation date that quarter.
The notes will be callable at par of $10 plus any coupon on any quarterly observation date other than the final one.
If the notes are not called and each ETF finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par plus any coupon. Otherwise, investors will lose 1% for every 1% decline of the least-performing ETF.
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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger callable contingent yield notes
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| Underlying ETFes: | iShares MSCI EAFE ETF, iShares Russell 2000 ETF, SPDR S&P 500 ETF trust
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| Amount: | $27 million
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| Maturity: | Oct. 9, 2025
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| Coupon: | 8% per year, payable quarterly if each ETF closes at or above its coupon barrier level on observation date that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus any coupon unless any ETF finishes below downside threshold level, in which case 1% loss for every 1% decline of worst performing ETF
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| Call option: | At par plus any coupon on any quarterly observation date other than final one
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| Initial levels: | $220.26 for Russell, $428.64 for S&P, $77.38 for EAFE
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| Coupon barrier levels: | $154.18 for Russell, $300.05 for S&P, $54.17 for EAFE; 70% of initial levels
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| Knock-in levels: | $143.17 for Russell, $278.62 for S&P, $50.30 for EAFE; 65% of initial levels
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| Pricing date: | Oct. 4
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| Settlement date: | Oct. 7
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| Underwriter: | Citigroup Global Markets Inc. with UBS Financial Services Inc. as selling agent
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| Fees: | 1.5%
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| Cusip: | 17329T299
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