By Susanna Moon
Chicago, Nov. 8 – Citigroup Global Markets Holdings Inc. priced $3 million of trigger autocallable contingent yield notes due Oct. 29, 2021 linked to a basket of four equally weighted common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are PulteGroup, Inc., Lennar Corp., Toll Brothers, Inc. and D.R. Horton, Inc.
The notes pay a contingent quarterly coupon at an annual rate of 10% if the underlying basket closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called if the basket closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the basket finishes below its 65% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes will be guaranteed by Citigroup Inc.
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 basket: | PulteGroup, Inc. (Symbol: PHM), Lennar Corp. (Symbol: LEN), Toll Brothers, Inc. (Symbol: TOL) and D.R. Horton, Inc. (Symbol: DHI), equally weighted
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| Amount: | $3 million
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| Maturity: | Oct. 29, 2021
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| Coupon: | 10% annualized, payable quarterly if basket closes at or above its 65% coupon barrier on each day that quarter
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| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above downside threshold, par plus contingent coupon; otherwise, 1% loss for each 1% decline
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| Call: | At par if basket closes above initial level on a quarterly observation date after six months
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| Initial levels: | $23.93 for Pulte, $41.79 for Lennar, $31.31 for Toll Brothers and $36.05 for D.R. Horton
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| Downside thresholds: | 65% of initial levels
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| Strike date: | Oct. 26
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| Pricing date: | Oct. 29
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| Settlement date: | Oct. 31
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| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17326X207
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