By Marisa Wong
Morgantown, W.Va., April 3 – Citigroup Global Markets Holdings Inc. priced $14.04 million of trigger callable contingent yield notes with daily coupon observation due Sept. 20, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The green 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 9% 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.
Proceeds will be used to finance or refinance loans and/or investments made by Citigroup for assets or projects that meet its green bond eligibility criteria.
Eligible project categories include renewable energy, energy efficiency, water quality and conservation, sustainable transportation and green building.
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 (green bonds)
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Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
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Amount: | $14,043,200
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Maturity: | Sept. 20, 2022
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Coupon: | 9% per year, payable for 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 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: | 2,832.94 for S&P, 1,563.932 for Russell and 3,387.94 for Stoxx
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Coupon barriers: | 1,983.058 for S&P, 1,094.752 for Russell and 2,371.558 for Stoxx; 70% of initial levels
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Downside thresholds: | 1,558.117 for S&P, 860.163 for Russell and 1,863.367 for Stoxx; 55% of initial levels
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Pricing date: | March 18
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Settlement date: | March 20
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Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 17326W605
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