New Issue: Citi prices $4 million floating-rate trigger callable contingent yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, May 24 – Citigroup Global Markets Holdings Inc. priced $4 million of floating-rate trigger callable contingent yield notes due Nov. 13, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

Each quarter, the notes pay a contingent coupon if each index’s closing level is at or above its coupon barrier, 60% of its initial level, on the observation date that quarter. The contingent coupon rate is SOFR plus 300 basis points per year subject to a floor of zero.

The notes are callable at par of $10 on each quarterly observation date other than the final one.

If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

Citigroup Global Markets Inc. is the agent with UBS Financial Services Inc. acting as distributor.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Trigger callable contingent yield notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$4 million
Maturity:	Nov. 13, 2025
Coupon:	SOFR plus 300 basis points per year, payable quarterly if each index closes at or above its coupon barrier on observation date that quarter; floor of zero
Price:	Par of $10
Payout at maturity:	If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
Call option:	At par on each quarterly observation date other than final one
Initial levels:	1,754.47 for Russell, 4,138.12 for S&P
Coupon barriers:	1,052.682 for Russell, 2,482.87 for S&P; 60% of initial levels
Downside thresholds:	1,052.682 for Russell, 2,482.87 for S&P; 60% of initial levels
Pricing date:	May 9
Settlement date:	May 12
Agent:	Citigroup Global Markets Inc.
Distributor:	UBS Financial Services Inc.
Fees:	1%
Cusip:	17331D154

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