By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – Citigroup Global Markets Holdings Inc. priced $7.61 million of trigger autocallable contingent yield notes due Sept. 19, 2028 linked to the least performing of the S&P 500 index and the MSCI Emerging Markets 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 closes at or above its coupon barrier, 70% of its initial level, on each day that quarter. The contingent coupon rate is 7.1% per year.
The notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its 70% downside threshold, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. and Citigroup Global Markets 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 indexes: | S&P 500 and MSCI Emerging Markets
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| Amount: | $7,607,470
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| Maturity: | Sept. 19, 2028
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| Coupon: | 7.1% per year, payable quarterly if each index closes at or above its coupon barrier on each day that quarter
|
| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus contingent coupon; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call: | At par if each index closes above initial level on a quarterly observation date
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| Initial levels: | 1,028.53 for Emerging Markets and 2,904.98 for S&P 500
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| Coupon barriers: | 719.971 for Emerging Markets and 2,033.486 for S&P 500; 70% of initial levels
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| Downside thresholds: | 719.971 for Emerging Markets and 2,033.486 for S&P 500; 70% of initial levels
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 19
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| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17326X157
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