By Wendy Van Sickle
Columbus, Ohio, April 12 – Citigroup Global Markets Holdings Inc. priced $8.69 million of trigger autocallable contingent yield notes due April 15, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if the shares close at or above the coupon barrier, 65.86% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date other than the final one.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 65.86% of the initial share price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $8,691,100
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| Maturity: | April 15, 2021
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| Contingent coupon: | 10%, payable quarterly if ETF closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless ETF finishes below downside threshold level, in which case 1% loss for each 1% decline from initial price
|
| Call: | Automatically at par if ETF closes at or above initial level on any quarterly observation date other than the final one
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| Initial price: | $31.85
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| Coupon barrier: | $20.98, 65.86% of initial price
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| Downside threshold: | $20.98, 65.86% of initial price
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| Pricing date: | April 10
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| Settlement date: | April 15
|
| Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17326W480
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