New Issue: Citi sells $23 million trigger callable contingent yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, Dec. 30 – Citigroup Global Markets Holdings Inc. priced $23 million of trigger callable contingent yield notes with daily coupon observation due June 27, 2024 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

Each quarter the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its coupon barrier level, 65% of its initial level, on every day during that quarter.

The notes will be callable at par of $10 plus any coupon on any quarterly observation date starting March 22, 2021.

If the notes are not called and each index finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par plus any final coupon. Otherwise, investors will lose 1% for every 1% decline of the least-performing index.

Citigroup Global Markets Inc. is the agent, and UBS Financial Services Inc. is acting as dealer

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Trigger callable contingent yield notes with daily coupon observation
Underlying indexes:	S&P 500 index, Nasdaq-100 index and Russell 2000 index
Amount:	$23 million
Maturity:	June 27, 2024
Coupon:	10% per year, payable quarterly if each index closes at or above its coupon barrier level on every day during that quarter
Price:	Par
Payout at maturity:	Par unless any index finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
Call:	At par plus any coupon due on any quarterly call valuation date starting March 22, 2021
Initial levels:	1,989.88 for Russell, 12,717.56 for Nasdaq, 3,687.26 for S&P
Coupon barriers:	1,4293.422 for Russell, 8,266.41 for Nasdaq, 2,396.72 for S&P; 65% of initial levels
Downside thresholds:	1,193.928 for Russell, 7,630.54 for Nasdaq, 2212.36 for S&P; 60% of initial levels
Pricing date:	Dec. 22
Settlement date:	Dec. 28
Agent:	Citigroup Global Markets Inc.
Dealer:	UBS Financial Services Inc.
Fees:	1%
Cusip:	17328L6532

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