By Taylor Fox
New York, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $4.75 million of trigger autocallable contingent yield notes due Sept. 26, 2030 linked to the iShares MSCI Emerging Markets exchange-traded fund and the SPDR S&P 500 ETF trust, 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 an annualized rate of 9.1% if each underlier closes at or above its coupon barrier, 70% of its initial value, on the observation date for that quarter.
The notes will be redeemed at par plus the coupon if both ETFs close at or above their initial values on any quarterly observation date starting after one year.
The payout at maturity will be par plus the coupon, if any, unless either underlier finishes below the 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial value.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | iShares MSCI Emerging Markets ETF and SPDR S&P 500 ETF trust
|
| Amount: | $4,749,000
|
| Maturity: | Sept. 26, 2030
|
| Coupon: | 9.1%, payable each quarter that each underlier closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Call: | At par plus the coupon if both ETFs close at or above their initial values on any quarterly observation date starting after one year
|
| Payout at maturity: | Par plus coupon, if any, if each ETF finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of the worse performing underlier from initial value
|
| Initial values: | $43.10 for EM ETF, $322.64 for SPDR ETF
|
| Coupon barriers: | $30.17 for EM ETF, $225.85 for SPDR ETF; 70% of initial values
|
| Downside thresholds: | $25.86 for EM ETF, $193.58 for SPDR ETF, 60% of initial values
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 28
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 17327Y717
|
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