By Wendy Van Sickle
Columbus, Ohio, July 9 – Citigroup Global Markets Holdings Inc. priced $3 million of trigger callable contingent yield notes with daily coupon observation due July 1, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 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, 55% of its initial level, on each day that quarter. The contingent coupon rate is 6.6% per year.
The notes are callable at par of $10 on each quarterly observation date.
If the notes are not called and each index finishes at or above its 55% downside threshold, 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.
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 callable contingent yield notes with daily coupon observation
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| Underlying indexes: | S&P 500, Russell 2000 and MSCI Emerging Markets
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| Amount: | $3 million
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| Maturity: | July 1, 2021
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| Coupon: | 6.6% per year, payable each quarter that each index closes at or above its coupon barrier on each day that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus any contingent coupon; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par on each quarterly observation date
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| Initial levels: | 2,924.92 for S&P, 1,546.55 for Russell and 1,054.86 for MSCI Emerging Markets
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| Coupon barriers: | 1,608.706 for S&P, 850.603 for Russell and 580.173 for MSCI Emerging Markets; 55% of initial levels
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| Downside thresholds: | 1,608.706 for S&P, 850.603 for Russell and 580.173 for MSCI Emerging Markets; 55% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17327P203
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