By Angela McDaniels
Tacoma, Wash., March 28 – Citigroup Global Markets Holdings Inc. priced $3.03 million of 0% trigger step securities due March 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
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.
Excluded are large-scale hydropower plants, nuclear power plants and fossil fuel projects.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of 34.9% and the index return. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger step securities
|
| Underlying index: | S&P 500
|
| Amount: | $3,029,570
|
| Maturity: | March 30, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is zero or positive, par plus greater of 34.9% and index return; par if index declines by 25% or less; full exposure to decline from initial level if index declines beyond 25%
|
| Initial index level: | 2,818.46
|
| Downside threshold: | 2,113.85, 75% of initial level
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 17326W449
|
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