By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – Citigroup Global Markets Holdings Inc. priced $19.26 million of trigger autocallable contingent yield notes due Sept. 26, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 6.5% if the index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be redeemed at par plus the coupon if the index closes above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless the index finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% of index decline from its initial level.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $19,260,750
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| Maturity: | Sept. 26, 2023
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| Coupon: | 6.5% annual rate, payable quarterly if the index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the final coupon if the index finishes above 75% of initial level; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | At par plus the coupon if the index closes at or above its initial level on any quarterly observation date after six months
|
| Initial level: | 4,354.19
|
| Coupon barrier: | 3,265.643; 75% of initial levels
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| Downside threshold: | 3,265.643; 75% of initial levels
|
| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17329T310
|
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