Citigroup plans trigger callable contingent yield notes on indexes

By Sarah Lizee

Olympia, Wash., Aug. 15 – Citigroup Global Markets Holdings Inc. plans to price trigger callable contingent yield notes with daily coupon observation due Aug. 19, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 each day that quarter. The contingent coupon rate will be 10.75% to 11.3% 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 65% 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.

The notes will price on Aug. 16.

The Cusip number is 17327P658.

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