By Kiku Steinfeld
Chicago, Sept. 30 – Citigroup Global Markets Holdings Inc. priced $544,500 of trigger autocallable contingent yield notes due Feb. 14, 2025 linked to an equally weighted basket of two ETFs, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Energy Select Sector SPDR Fund and the Financial Select Sector SPDR Fund
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.9% if the basket closes at or above its 75% coupon barrier on the related quarterly observation date.
The notes will be called at par plus coupon if the basket closes at or above the initial basket level on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the final level of the basket is less than the 75% downside threshold, in which case investors will be fully exposed to the basket decline from its initial level.
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 funds: | Energy Select Sector SPDR Fund, Financial Select Sector SPDR Fund; equal weights
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| Amount: | $544,500
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| Maturity: | Feb. 14, 2025
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| Coupon: | 9.9% annualized, payable each quarter that basket closes at or above coupon barrier on observation date for that quarter
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| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon unless final basket level is less than downside threshold, in which case full exposure to losses
|
| Call: | Automatically at par plus coupon if basket closes at or above initial share price on any quarterly observation date after six months
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| Initial share price: | $70.41 for Energy, $40.11 for Financial
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| Coupon barrier: | 75% of initial level
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| Downside threshold: | 75% of initial level
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| Pricing date: | Feb. 11
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| Settlement date: | Feb. 16
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| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 0%
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| Cusip: | 17330L116
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