By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – Citigroup Global Markets Holdings Inc. priced $8 million of trigger autocallable contingent yield notes due Nov. 29, 2024 linked to the SPDR S&P 500 ETF trust and the SPDR S&P Homebuilders ETF, 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 annualized rate of 6.5% if each ETF closes at or above its coupon barrier, 70% of its initial value, on the corresponding observation date.
The notes will be redeemed at par plus the coupon if each ETF closes at or above their initial values on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either ETF finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performer from its initial value.
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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| Underlying ETFs: | SPDR S&P 500 ETF, SPDR S&P Homebuilders ETF
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| Amount: | $8 million
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| Maturity: | Nov. 29, 2024
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| Coupon: | 6.5% per year, payable quarterly if each ETF closes at or above coupon barrier on the corresponding observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus coupon if each ETF finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of the worst performer from initial value
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| Call: | At par plus the coupon if each ETF closes at or above initial values on any quarterly observation date after six months
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| Initial value: | $469.44 for S&P 500, $88.84 for Homebuilders
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| Coupon barrier: | $328.61 for S&P 500, $58.69 for Homebuilders; 70% of initial value
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| Downside threshold: | $328.61 for S&P 500, $58.69 for Homebuilders; 70% of initial value
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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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: | 17329T443
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