By Marisa Wong
Olympia, Wash., April 16 – Citigroup Global Markets Holdings Inc. priced $23,003,770 of trigger autocallable contingent yield notes due March 29, 2029 linked to the least performing of the S&P 500 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The 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 the observation date for that quarter. The contingent coupon rate is 7.5% per year.
The notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above its 50% 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 autocallable contingent yield notes (green bonds)
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| Underlying indexes: | S&P 500 and MSCI Emerging Markets
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| Amount: | $23,003,770
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| Maturity: | March 29, 2029
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| Coupon: | 7.5% per year, payable quarterly if each index closes at or above its coupon barrier on related observation date
|
| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call: | At par if each index closes above initial level on a quarterly observation date after one year
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| Initial levels: | 2,805.37 for S&P, 1,050.446 for EM
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| Coupon barriers: | 1,963.759 for S&P, 735.312 for EM; 70% of initial levels
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| Downside thresholds: | 1,402.685 for S&P, 525.223 for EM; 50% of initial levels
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| Pricing date: | March 27
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| Settlement date: | March 29
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| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17326W365
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