Chicago, July 28 – Citigroup Global Markets Holdings Inc. priced $5.97 million of trigger autocallable contingent yield notes due July 24, 2026 linked to the worst performing of the Invesco QQQ Trust, Series 1 and the SPDR EURO STOXX 50 ETF, 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 9.4% if each ETF closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each ETF closes at or above its initial level, on any quarterly valuation date after six months.
If the notes have not been called, the payout will be par if the worst performing ETF finishes at or above its 75% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from initial level.
Citigroup Global Markets Inc. is the underwriter and UBS Financial Services Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Trigger autocallable contingent yield notes
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Underlying funds: | Invesco QQQ Trust, Series 1 and SPDR EURO STOXX 50 ETF
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Amount: | $5,970,000
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Maturity: | July 24, 2026
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Coupon: | 9.4% annualized rate, payable quarterly if each ETF closes at or above coupon barrier level, on valuation date for that period
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Price: | Par of $10
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Payout at maturity: | Par unless either ETF closes below its barrier, in which case exposure to decline of lesser performer
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Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly valuation date after six months
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Initial levels: | $375.63 for QQQ, $46.75 for Stoxx ETF
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Coupon barrier levels: | $281.72 for QQQ, $35.06 for Stoxx ETF; 75% of initial levels
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Final barrier levels: | $281.72 for QQQ, $35.06 for Stoxx ETF; 75% of initial levels
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Pricing date: | July 21
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Settlement date: | July 26
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Underwriter: | Citigroup Global Markets Inc. with UBS Financial Services Inc. as agent
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Fees: | 2%
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Cusip: | 17331M592
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