By Wendy Van Sickle
Columbus, Ohio, Nov. 10 – Citigroup Global Markets Holdings Inc. priced $19.02 million of trigger autocallable contingent yield notes due Nov. 9, 2032 linked to the S&P 500 index, 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 8.45% if the index 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 the index closes at or above its initial value on any quarterly observation date after one year.
The payout at maturity will be par plus the final coupon if the index finishes at or above its coupon barrier.
If the index finishes below the coupon barrier but at or above the 60% downside threshold, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial value.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying index: | S&P 500 index
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| Amount: | $19,023,070
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| Maturity: | Nov. 9, 2032
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| Coupon: | 8.45% per year, payable quarterly if the index closes at or above coupon barrier on the corresponding observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus coupon if the index finishes at or above coupon barrier; if index finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of the index from initial value
|
| Call: | At par plus the coupon if the index closes at or above initial value on any quarterly observation date after one year
|
| Initial value: | 3,770.55
|
| Coupon barrier: | 2,639.39; 70% of initial value
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| Downside threshold: | 2,262.33; 60% of initial value
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| Pricing date: | Nov. 4
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| Settlement date: | Nov. 9
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17330X334
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