New Issue: Citigroup prices $2.37 million fixed-to-float trigger securities on S&P 500

By Jennifer Chiou

New York, Aug. 28 - Citigroup Inc. priced $2,371,000 of fixed-to-float trigger securities due Aug. 29, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be fixed at 3% for the first three years. Beginning on Aug. 29, 2016, the interest rate will be Libor plus 205 basis points. Interest is payable quarterly.

If the final index level is greater than or equal to the trigger level, 50% of the initial index level, the payout at maturity will be par.

If the final index level is less than the trigger level, investors will lose 1% for every 1% that the final index level is less than the initial level.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Inc.
Issue:	Fixed-to-float trigger securities
Underlying index:	S&P 500
Amount:	$2,371,000
Maturity:	Aug. 29, 2023
Coupon:	3% for first three years; beginning Aug. 29, 2016, Libor plus 205 bps; payable quarterly
Price:	Par
Payout at maturity:	If final index level is greater than or equal to trigger level, par; otherwise, full exposure to losses from initial level
Initial level:	1,656.78
Trigger level:	828.39, 50% of initial level
Pricing date:	Aug. 26
Settlement date:	Aug. 29
Underwriter:	Citigroup Global Markets Inc.
Fees:	3.5%
Cusip:	1730T0US6

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