Citigroup Global Markets Holdings prices Trigger Callable Yield Notes linked to least performing of EURO STOXX 50 and Nasdaq-100, due January 2028
Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., filed a preliminary pricing supplement for Trigger Callable Yield Notes linked to the least performing of the EURO STOXX 50 Index and the Nasdaq-100 Index, with an expected trade date of October 21, 2026 and maturity of January 27, 2028. The notes carry a coupon rate of 8.85% to 9.35% per annum (to be set on the trade date), a downside threshold of 70% of the initial underlying level for each underlying, and are callable by the issuer monthly...
Key takeaways
Issuer and structure: Citigroup Global Markets Holdings Inc. is offering unsecured, unsubordinated notes guaranteed by Citigroup Inc., with stated principal amount of $10.00 per note and minimum investment of 100 notes.
Underlyings: Notes are linked to the least performing of the EURO STOXX 50 Index (SX5E) and the Nasdaq-100 Index (NDX); payment at maturity depends solely on the worst performer.
Coupon and downside: Coupon rate of 8.85% to 9.35% per annum (to be set on the trade date), paid monthly; downside threshold is 70% of each underlying's initial level.
Issuer call: Callable by the issuer in whole (not in part) on any monthly coupon payment date beginning approximately three months after issuance (first eligible call January 27, 2027), at issuer's sole discretion.
Maturity payment: If not called and the least performing underlying closes at or above its downside threshold, investors receive the $10.00 principal plus the final coupon; if below, investors receive principal reduced by the percentage decline, with potential 100% loss.
Distribution and proceeds: Issue price $10.00 per note; underwriting discount $0.10 per note; proceeds to issuer $9.90 per note; estimated value on the trade date at least $9.735 per note. CGMI is the lead agent; UBS Financial Services Inc. is the agent for sales.
Key dates: Expected trade date October 21, 2026; expected settlement date October 26, 2026; expected final valuation date January 24, 2028; maturity date January 27, 2028.
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